Smartleaf Asset Management LLC Increases Position in Ferrari (NYSE:RACE)

Smartleaf Asset Management LLC lifted its position in Ferrari (NYSE:RACE) by 118.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 430 shares of the company’s stock after purchasing an additional 233 shares during the period. Smartleaf Asset Management LLC’s holdings in Ferrari were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sapient Capital LLC grew its stake in Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after acquiring an additional 653 shares in the last quarter. Cerity Partners LLC grew its stake in Ferrari by 14.0% during the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 valued at $684,888,000 after acquiring an additional 38,356 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Ferrari by 156.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock valued at $2,731,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Ferrari by 35.1% during the fourth quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after acquiring an additional 85 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on RACE. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Price Performance

Ferrari stock opened at $446.57 on Friday. The firm has a 50-day moving average price of $451.82 and a 200-day moving average price of $457.04. The firm has a market capitalization of $108.24 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $399.27 and a 12-month 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 issued a $3.1265 dividend. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is 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.