LGT Group Foundation Has $2.17 Million Stock Position in Ferrari (NYSE:RACE)

LGT Group Foundation grew its stake in shares of Ferrari (NYSE:RACE) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,109 shares of the company’s stock after purchasing an additional 55 shares during the period. LGT Group Foundation’s holdings in Ferrari were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari during the fourth quarter valued at about $26,000. Planning Capital Management Corp acquired a new position in shares of Ferrari during the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari during the third quarter valued at about $33,000. Armstrong Advisory Group Inc. raised its holdings in shares of 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 purchasing an additional 50 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Ferrari during the fourth quarter valued at about $45,000.

Ferrari Trading Down 0.2 %

Shares of RACE stock opened at $463.86 on Tuesday. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a 50-day simple moving average of $450.52 and a two-hundred day simple moving average of $457.10. The company has a market capitalization of $112.43 billion, a price-to-earnings ratio of 50.70, a PEG ratio of 4.43 and a beta of 0.95.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. 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 presently 5.63%.

Analyst Ratings Changes

Several brokerages have recently weighed in on RACE. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

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.