Ferrari (NYSE:RACE) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in Ferrari (NYSE:RACE) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 16,151 shares of the company’s stock after selling 332 shares during the period. US Bancorp DE’s holdings in Ferrari were worth $6,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wiser Advisor Group LLC lifted its stake in Ferrari by 15.5% in the 4th quarter. Wiser Advisor Group LLC now owns 1,303 shares of the company’s stock valued at $554,000 after buying an additional 175 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Ferrari in the fourth quarter worth $258,000. Mutual of America Capital Management LLC lifted its position in shares of Ferrari by 5.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 23,517 shares of the company’s stock valued at $10,029,000 after acquiring an additional 1,232 shares in the last quarter. Illumine Investment Management LLC acquired a new stake in shares of Ferrari during the fourth quarter valued at $656,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in Ferrari by 14.8% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 310 shares of the company’s stock worth $133,000 after purchasing an additional 40 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RACE shares. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Performance

NYSE:RACE opened at $459.77 on Wednesday. The company has a market cap of $111.44 billion, a P/E ratio of 50.25, a P/E/G ratio of 4.43 and a beta of 0.95. The firm’s 50 day moving average is $451.04 and its two-hundred day moving average is $457.10. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

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

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.