Personal CFO Solutions LLC Cuts Position in Ferrari (NYSE:RACE)

Personal CFO Solutions LLC decreased its position in Ferrari (NYSE:RACE) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,890 shares of the company’s stock after selling 875 shares during the quarter. Personal CFO Solutions LLC’s holdings in Ferrari were worth $1,228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the fourth quarter valued at approximately $26,000. Planning Capital Management Corp purchased a new stake in Ferrari in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in Ferrari in the third quarter valued at approximately $33,000. Hobbs Group Advisors LLC purchased a new stake in Ferrari in the third quarter valued at approximately $47,000. Finally, Armstrong Advisory Group Inc. raised its position 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 Performance

Shares of RACE stock opened at $450.14 on Friday. 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 firm has a fifty day moving average price of $452.18 and a 200 day moving average price of $456.88. The company has a market cap of $109.10 billion, a P/E ratio of 49.20, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13.

Ferrari Increases Dividend

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

Analyst Ratings Changes

RACE has been the topic of a number of research analyst reports. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

About Ferrari

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.