Edmond DE Rothschild Holding S.A. Sells 622 Shares of Ferrari (NYSE:RACE)

Edmond DE Rothschild Holding S.A. reduced its holdings in shares of Ferrari (NYSE:RACE) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,125 shares of the company’s stock after selling 622 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Ferrari were worth $5,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. HBK Sorce Advisory LLC lifted its position in shares of Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after acquiring an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc boosted its stake in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock worth $250,000 after purchasing an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after buying an additional 30 shares in the last quarter. Finally, EWA LLC increased its position in shares of Ferrari by 6.6% during the third quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after buying an additional 32 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RACE. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $497.86.

Ferrari Price Performance

RACE opened at $428.71 on Tuesday. The stock has a market capitalization of $103.91 billion, a P/E ratio of 46.85, a PEG ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The stock has a 50-day moving average price of $455.85 and a 200-day moving average price of $451.90.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.