Ferrari (NYSE:RACE) Shares Sold by Fox Hill Wealth Management

Fox Hill Wealth Management decreased its stake in shares of Ferrari (NYSE:RACE) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,642 shares of the company’s stock after selling 652 shares during the period. Fox Hill Wealth Management’s holdings in Ferrari were worth $1,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC increased its position in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Bank of Italy increased its position in shares of Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after acquiring an additional 63,675 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after acquiring an additional 38,356 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Ferrari by 6.4% in the fourth quarter. William Blair Investment Management LLC now owns 594,657 shares of the company’s stock worth $252,634,000 after acquiring an additional 35,525 shares in the last quarter. Finally, Banco Santander S.A. increased its position in shares of Ferrari by 4.2% in the fourth quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock worth $176,190,000 after acquiring an additional 16,663 shares in the last quarter.

Ferrari Price Performance

Shares of RACE stock opened at $446.19 on Wednesday. The company has a market capitalization of $108.15 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The firm has a fifty day simple moving average of $455.30 and a 200-day simple moving average of $454.73. 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 has a twelve month low of $399.27 and a twelve month high of $509.13.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is 5.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on RACE. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. 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 started coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.