PDS Planning Inc Buys 27 Shares of Ferrari (NYSE:RACE)

PDS Planning Inc grew its stake in Ferrari (NYSE:RACE) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589 shares of the company’s stock after acquiring an additional 27 shares during the period. PDS Planning Inc’s holdings in Ferrari were worth $250,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the fourth quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari in the 3rd quarter valued at about $47,000. Armstrong Advisory Group Inc. raised its holdings in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Ferrari in the 4th quarter worth approximately $45,000. Finally, Plato Investment Management Ltd bought a new position in shares of Ferrari during the fourth quarter valued at approximately $53,000.

Ferrari Trading Up 1.5 %

Ferrari stock opened at $453.34 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market cap of $109.88 billion, a PE ratio of 49.55, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock has a 50-day moving average of $455.70 and a two-hundred day moving average of $454.72. Ferrari has a one year low of $399.27 and a one year high of $509.13.

Ferrari Increases Dividend

The business 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 $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.