Fmr LLC Sells 36,752 Shares of Ferrari (NYSE:RACE)

Fmr LLC decreased its stake in shares of Ferrari (NYSE:RACE) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,012,606 shares of the company’s stock after selling 36,752 shares during the quarter. Fmr LLC owned about 0.42% of Ferrari worth $431,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hanson & Doremus Investment Management bought a new position in shares of Ferrari during the fourth quarter worth $26,000. Hobbs Group Advisors LLC bought a new position in shares of Ferrari during the third quarter worth $47,000. Armstrong Advisory Group Inc. boosted its position 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 last quarter. Kestra Investment Management LLC bought a new position in shares of Ferrari during the fourth quarter worth $45,000. Finally, Plato Investment Management Ltd bought a new position in shares of Ferrari during the fourth quarter worth $53,000.

Ferrari Trading Up 8.7 %

Shares of RACE opened at $432.65 on Thursday. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a market cap of $104.86 billion, a P/E ratio of 47.28, a P/E/G ratio of 4.43 and a beta of 1.03. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $453.58 and its 200-day simple moving average is $449.10.

Ferrari Increases Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is presently 5.63%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RACE shares. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. UBS Group decreased their price target on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.29.

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.