Ferrari (NYSE:RACE) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in shares of Ferrari (NYSE:RACE) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,257 shares of the company’s stock after selling 7,600 shares during the period. Swiss National Bank’s holdings in Ferrari were worth $158,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RACE. Hanson & Doremus Investment Management acquired a new position in Ferrari during the fourth quarter valued at approximately $26,000. Planning Capital Management Corp acquired a new position in Ferrari during the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari during the third quarter valued at approximately $33,000. Armstrong Advisory Group Inc. raised its stake in shares of Ferrari by 100.0% during 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. Finally, Kestra Investment Management LLC purchased a new stake in shares of Ferrari during the fourth quarter valued at approximately $45,000.

Ferrari Stock Down 2.2 %

Shares of NYSE:RACE opened at $440.34 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 company has a fifty day simple moving average of $453.74 and a 200 day simple moving average of $456.01. The firm has a market cap of $106.73 billion, a PE ratio of 48.12, a price-to-earnings-growth 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 business also recently declared 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. 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 payout ratio is 5.63%.

Analyst Ratings Changes

A number of research firms have recently issued reports on RACE. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.