Verdence Capital Advisors LLC Has $956,000 Position in Ferrari (NYSE:RACE)

Verdence Capital Advisors LLC reduced its holdings in shares of Ferrari (NYSE:RACE) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,250 shares of the company’s stock after selling 27 shares during the period. Verdence Capital Advisors LLC’s holdings in Ferrari were worth $956,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Ferrari by 83.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 728 shares of the company’s stock valued at $342,000 after buying an additional 331 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Ferrari in the 3rd quarter valued at about $267,000. Marks Group Wealth Management Inc grew its stake in shares of Ferrari by 3.6% in the 3rd quarter. Marks Group Wealth Management Inc now owns 1,569 shares of the company’s stock valued at $738,000 after buying an additional 54 shares during the period. Forte Capital LLC ADV grew its stake in shares of Ferrari by 11.4% in the 3rd quarter. Forte Capital LLC ADV now owns 1,976 shares of the company’s stock valued at $929,000 after buying an additional 202 shares during the period. Finally, Ironsides Asset Advisors LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at about $243,000.

Ferrari Price Performance

Shares of NYSE RACE opened at $458.40 on Thursday. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The firm’s 50-day simple moving average is $451.53 and its 200 day simple moving average is $457.11. 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 stock has a market cap of $111.10 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 4.43 and a beta of 0.95.

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 given a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Wall Street Analyst Weigh In

RACE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.