Mutual of America Capital Management LLC Has $10.03 Million Stake in Ferrari (NYSE:RACE)

Mutual of America Capital Management LLC increased its position in Ferrari (NYSE:RACE) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,517 shares of the company’s stock after buying an additional 1,232 shares during the period. Mutual of America Capital Management LLC’s holdings in Ferrari were worth $10,029,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ferrari by 29.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,500 shares of the company’s stock worth $1,179,000 after purchasing an additional 570 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Ferrari by 11.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,345 shares of the company’s stock worth $1,102,000 after buying an additional 241 shares during the last quarter. US Bancorp DE increased its position in Ferrari by 1.7% during the third quarter. US Bancorp DE now owns 16,483 shares of the company’s stock worth $7,750,000 after buying an additional 282 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Ferrari by 83.4% during the third quarter. Farther Finance Advisors LLC now owns 728 shares of the company’s stock valued at $342,000 after buying an additional 331 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Ferrari by 4.1% in the third quarter. Janney Montgomery Scott LLC now owns 69,257 shares of the company’s stock worth $32,559,000 after buying an additional 2,722 shares during the last quarter.

Ferrari Price Performance

NYSE:RACE opened at $464.47 on Friday. 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 has a one year low of $399.27 and a one year high of $509.13. The company has a fifty day moving average price of $449.85 and a 200 day moving average price of $457.01. The stock has a market cap of $113.21 billion, a P/E ratio of 50.76, a PEG ratio of 4.43 and a beta of 0.95.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders 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 positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is currently 5.63%.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Company 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.