Ferrari (NYSE:RACE) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its stake in shares of Ferrari (NYSE:RACE) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,462 shares of the company’s stock after purchasing an additional 803 shares during the quarter. NewEdge Wealth LLC’s holdings in Ferrari were worth $4,870,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the third quarter worth approximately $29,000. Hanson & Doremus Investment Management purchased a new position in Ferrari in the fourth quarter worth approximately $26,000. Planning Capital Management Corp acquired a new position in Ferrari during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari in the 3rd quarter valued at approximately $33,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at $47,000.

Ferrari Stock Down 4.2 %

Ferrari stock opened at $459.90 on Friday. The company has a market capitalization of $112.10 billion, a P/E ratio of 50.26, a PEG ratio of 4.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The stock has a 50-day simple moving average of $449.10 and a 200-day simple moving average of $456.54.

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

Analyst Ratings Changes

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