Ferrari (NYSE:RACE) Shares Sold by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. reduced its position in shares of Ferrari (NYSE:RACE) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 643 shares of the company’s stock after selling 128 shares during the period. SRS Capital Advisors Inc.’s holdings in Ferrari were worth $273,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hanson & Doremus Investment Management acquired a new position in Ferrari during the fourth quarter worth about $26,000. Planning Capital Management Corp acquired a new position in Ferrari during the third quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new position in Ferrari during the third quarter worth about $33,000. Armstrong Advisory Group Inc. grew its holdings 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 during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Ferrari in the 4th quarter valued at $45,000.

Analyst Ratings Changes

A number of research firms recently weighed in on RACE. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 1.0 %

Shares of NYSE RACE opened at $459.77 on Wednesday. Ferrari has a one year low of $399.27 and a one year high of $509.13. The firm has a market capitalization of $111.44 billion, a PE ratio of 50.25, a PEG ratio of 4.43 and a beta of 0.95. 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 business has a 50-day moving average price of $451.04 and a two-hundred day moving average price of $457.10.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. 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. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) 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.