Ferrari (NYSE:RACE) Shares Sold by West Family Investments Inc.

West Family Investments Inc. lowered its stake in shares of Ferrari (NYSE:RACE) by 3.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 652 shares of the company’s stock after selling 26 shares during the period. West Family Investments Inc.’s holdings in Ferrari were worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari in the 4th quarter valued at $26,000. Planning Capital Management Corp purchased a new position in shares of Ferrari in the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new position in Ferrari in the 3rd quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new position in Ferrari during the third quarter worth approximately $47,000. Finally, Armstrong Advisory Group Inc. grew its holdings in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the period.

Ferrari Stock Up 0.8 %

NYSE RACE opened at $450.14 on Friday. The business’s fifty day simple moving average is $452.18 and its 200-day simple moving average is $456.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market cap of $109.10 billion, a PE ratio of 49.20, a P/E/G ratio of 4.43 and a beta of 0.95. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13.

Ferrari Increases Dividend

The company also recently announced 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 of this dividend is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s payout ratio is 5.63%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RACE shares. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

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.