Lake Street Advisors Group LLC Sells 22 Shares of Ferrari (NYSE:RACE)

Lake Street Advisors Group LLC reduced its holdings in shares of Ferrari (NYSE:RACE) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,884 shares of the company’s stock after selling 22 shares during the period. Lake Street Advisors Group LLC’s holdings in Ferrari were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RACE. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the 4th quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari during the 3rd quarter worth approximately $29,000. Planning Capital Management Corp acquired a new stake in Ferrari in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC bought a new stake in Ferrari in the third quarter valued at $33,000. Finally, Armstrong Advisory Group Inc. raised its stake in 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 in the last quarter.

Ferrari Stock Performance

Shares of Ferrari stock opened at $479.66 on Thursday. The firm has a market cap of $116.92 billion, a P/E ratio of 52.42, a P/E/G ratio of 4.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a 50 day simple moving average of $448.41 and a 200 day simple moving average of $456.52. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13.

Ferrari Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group boosted their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

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.