Ferrari (NYSE:RACE) Shares Sold by Martin Currie Ltd.

Martin Currie Ltd. lessened its holdings in Ferrari (NYSE:RACE) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,579 shares of the company’s stock after selling 51,442 shares during the period. Ferrari comprises 5.7% of Martin Currie Ltd.’s investment portfolio, making the stock its 3rd biggest holding. Martin Currie Ltd. owned 0.15% of Ferrari worth $155,864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Thrivent Financial for Lutherans raised its position in Ferrari by 63.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock valued at $1,274,000 after buying an additional 1,051 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ferrari by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company’s stock valued at $4,412,000 after purchasing an additional 1,864 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Ferrari by 24.8% in the third quarter. Townsquare Capital LLC now owns 5,435 shares of the company’s stock valued at $2,555,000 after purchasing an additional 1,079 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Ferrari during the third quarter worth about $1,041,000. Finally, Icon Wealth Advisors LLC boosted its holdings in Ferrari by 8.5% during the third quarter. Icon Wealth Advisors LLC now owns 436 shares of the company’s stock worth $205,000 after purchasing an additional 34 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on RACE shares. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Finally, 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 report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Stock Performance

NYSE RACE opened at $429.93 on Friday. The company’s 50 day moving average is $456.00 and its 200-day moving average is $452.36. The firm has a market cap of $104.21 billion, a P/E ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. 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 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 paid a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s dividend payout ratio is currently 5.63%.

Ferrari 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.