Ferrari (NYSE:RACE) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC lessened its holdings in shares of Ferrari (NYSE:RACE) by 35.0% in the fourth quarter, HoldingsChannel reports. The fund owned 413 shares of the company’s stock after selling 222 shares during the period. TD Private Client Wealth LLC’s holdings in Ferrari were worth $176,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. HBK Sorce Advisory LLC raised its stake in shares of Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after purchasing an additional 22 shares in the last quarter. Elite Wealth Management Inc. raised its position in shares of Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after buying an additional 25 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after acquiring an additional 25 shares during the period. PDS Planning Inc boosted its holdings in shares of Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after acquiring an additional 27 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after acquiring an additional 30 shares during the period.

Analyst Ratings Changes

RACE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Price Performance

Shares of NYSE:RACE opened at $433.99 on Wednesday. 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 company has a market capitalization of $105.19 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock has a fifty day moving average of $456.62 and a 200-day moving average of $453.21. Ferrari has a one year low of $399.27 and a one year 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 given a $3.1265 dividend. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is 5.63%.

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.