Capital Wealth Planning LLC Has $3.87 Million Stock Holdings in Ferrari (NYSE:RACE)

Capital Wealth Planning LLC boosted its position in shares of Ferrari (NYSE:RACE) by 8.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,106 shares of the company’s stock after buying an additional 736 shares during the quarter. Capital Wealth Planning LLC’s holdings in Ferrari were worth $3,869,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Metis Global Partners LLC lifted its stake in shares of Ferrari by 5.3% in the 4th quarter. Metis Global Partners LLC now owns 3,588 shares of the company’s stock valued at $1,533,000 after purchasing an additional 181 shares during the period. Wiser Advisor Group LLC lifted its stake in shares of 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 purchasing an additional 175 shares during the period. SVB Wealth LLC acquired a new position in shares of Ferrari in the 4th quarter valued at $258,000. Mutual of America Capital Management LLC lifted its stake in shares of Ferrari by 5.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 23,517 shares of the company’s stock valued at $10,029,000 after purchasing an additional 1,232 shares during the period. Finally, Illumine Investment Management LLC acquired a new position in shares of Ferrari in the 4th quarter valued at $656,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group upped their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Price Performance

RACE stock opened at $464.47 on Friday. The stock has a 50-day moving average price of $449.85 and a two-hundred day moving average price of $457.01. The stock has a market cap of $113.21 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. 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 1 year low of $399.27 and a 1 year high of $509.13.

Ferrari Increases Dividend

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