Ferrari (NYSE:RACE) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its holdings in Ferrari (NYSE:RACE) by 8.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,713 shares of the company’s stock after selling 695 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Ferrari were worth $3,277,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RACE. Vanguard Group Inc. raised its position in shares of Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after purchasing an additional 45,754 shares during the last quarter. Bank of Italy raised its holdings in shares of Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after buying an additional 63,675 shares during the last quarter. Norges Bank purchased a new position in shares of Ferrari in the fourth quarter worth $697,226,000. Bank of New York Mellon Corp lifted its stake in shares of Ferrari by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after buying an additional 38,356 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of Ferrari by 6.4% during the fourth quarter. William Blair Investment Management LLC now owns 594,657 shares of the company’s stock valued at $252,634,000 after buying an additional 35,525 shares during the last quarter.

Ferrari Stock Performance

RACE opened at $428.71 on Tuesday. The stock has a market cap of $103.91 billion, a P/E ratio of 46.85, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a fifty day moving average price of $455.85 and a 200 day moving average price of $451.90. 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. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This is a positive change from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s dividend payout ratio is presently 5.63%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RACE. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and a consensus target price of $497.86.

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.