Farther Finance Advisors LLC Has $325,000 Stock Holdings in Ferrari (NYSE:RACE)

Farther Finance Advisors LLC lifted its position in shares of Ferrari (NYSE:RACE) by 5.1% during the 4th quarter, Holdings Channel reports. The firm owned 765 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ferrari were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its stake in Ferrari by 7.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,454 shares of the company’s stock worth $1,154,000 after acquiring an additional 168 shares during the period. OneDigital Investment Advisors LLC increased its holdings in Ferrari by 3.8% in the third quarter. OneDigital Investment Advisors LLC now owns 3,078 shares of the company’s stock valued at $1,447,000 after purchasing an additional 113 shares during the period. Mill Creek Capital Advisors LLC acquired a new stake in Ferrari during the 3rd quarter worth about $218,000. Mutual of America Capital Management LLC lifted its position in shares of Ferrari by 20.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 22,285 shares of the company’s stock valued at $10,445,000 after acquiring an additional 3,824 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Ferrari by 63.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock worth $1,274,000 after purchasing an additional 1,051 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on RACE shares. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 1.2 %

Shares of Ferrari stock opened at $454.62 on Tuesday. 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 52-week low of $399.27 and a 52-week high of $509.13. The stock has a market capitalization of $110.19 billion, a PE ratio of 49.68, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a 50-day simple moving average of $454.94 and a two-hundred day simple moving average of $455.09.

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

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.