Zurcher Kantonalbank Zurich Cantonalbank Sells 267 Shares of Ferrari (NYSE:RACE)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Ferrari (NYSE:RACE) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,470 shares of the company’s stock after selling 267 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ferrari were worth $35,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RACE. Hanson & Doremus Investment Management bought a new position in Ferrari during the fourth quarter valued at approximately $26,000. Planning Capital Management Corp bought a new position in Ferrari during the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new position in Ferrari during the third quarter valued at approximately $33,000. Armstrong Advisory Group Inc. raised its position in 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 acquiring an additional 50 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in Ferrari during the fourth quarter valued at approximately $45,000.

Wall Street Analyst Weigh In

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

Ferrari Trading Down 2.7 %

Shares of RACE stock opened at $437.30 on Tuesday. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The firm’s fifty day simple moving average is $452.39 and its 200 day simple moving average is $456.45. The firm has a market capitalization of $105.99 billion, a P/E ratio of 47.79, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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 given a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio 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.