Pictet Asset Management Holding SA Has $195.44 Million Stock Holdings in Ferrari (NYSE:RACE)

Pictet Asset Management Holding SA reduced its stake in shares of Ferrari (NYSE:RACE) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 457,693 shares of the company’s stock after selling 4,820 shares during the quarter. Pictet Asset Management Holding SA owned 0.19% of Ferrari worth $195,442,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RACE. Hanson & Doremus Investment Management bought a new stake in Ferrari during the fourth quarter worth $26,000. Armstrong Advisory Group Inc. boosted its stake in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares in the last quarter. Kestra Investment Management LLC bought a new position in Ferrari in the fourth quarter valued at about $45,000. Hobbs Group Advisors LLC bought a new position in Ferrari in the third quarter valued at about $47,000. Finally, Plato Investment Management Ltd bought a new position in shares of Ferrari in the fourth quarter worth about $53,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Finally, Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and an average target price of $497.86.

Ferrari Price Performance

Shares of RACE opened at $429.93 on Friday. The business has a 50-day moving average of $456.00 and a 200-day moving average of $452.46. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The company has a market capitalization of $104.21 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

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

Ferrari 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.