Level Four Advisory Services LLC Has $876,000 Stock Holdings in Ferrari (NYSE:RACE)

Level Four Advisory Services LLC lifted its position in shares of Ferrari (NYSE:RACE) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,061 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Level Four Advisory Services LLC’s holdings in Ferrari were worth $876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hanson & Doremus Investment Management bought a new position in Ferrari during the fourth quarter worth about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari during the third quarter worth $47,000. Armstrong Advisory Group Inc. raised its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares during the period. Kestra Investment Management LLC bought a new stake in Ferrari in the 4th quarter valued at $45,000. Finally, Plato Investment Management Ltd bought a new stake in Ferrari in the 4th quarter valued at $53,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Stock Performance

NYSE RACE opened at $429.93 on Monday. The firm’s fifty day moving average price is $456.00 and its two-hundred day moving average price is $452.20. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The firm has a market capitalization of $104.21 billion, a P/E ratio of 46.99, a price-to-earnings-growth 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 Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. This represents a dividend yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is presently 5.63%.

Ferrari 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.