Metis Global Partners LLC Purchases 181 Shares of Ferrari (NYSE:RACE)

Metis Global Partners LLC boosted its position in Ferrari (NYSE:RACE) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,588 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Metis Global Partners LLC’s holdings in Ferrari were worth $1,533,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management bought a new stake in Ferrari in the 4th quarter valued at $26,000. Planning Capital Management Corp bought a new stake in Ferrari in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari during the 3rd quarter valued at $33,000. Armstrong Advisory Group Inc. lifted its position in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 50 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in shares of Ferrari during the 4th quarter valued at $45,000.

Ferrari Price Performance

Shares of RACE stock opened at $463.86 on Tuesday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The company has a market cap of $112.43 billion, a P/E ratio of 50.70, a P/E/G ratio of 4.43 and a beta of 0.95. The business has a fifty day simple moving average of $450.52 and a 200 day simple moving average of $457.10.

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 $3.1265 dividend. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is presently 5.63%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RACE. UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

About Ferrari

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.