GC Wealth Management RIA LLC Decreases Position in Ferrari (NYSE:RACE)

GC Wealth Management RIA LLC lowered its stake in shares of Ferrari (NYSE:RACE) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 859 shares of the company’s stock after selling 65 shares during the period. GC Wealth Management RIA LLC’s holdings in Ferrari were worth $365,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Elite Wealth Management Inc. increased its stake in shares of Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after purchasing an additional 25 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after buying an additional 25 shares in the last quarter. Addison Advisors LLC grew its stake in Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after buying an additional 26 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after buying an additional 30 shares in the last quarter. Finally, Caprock Group LLC grew its stake in Ferrari by 1.7% in the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after buying an additional 31 shares in the last quarter.

Ferrari Stock Up 1.3 %

Shares of NYSE:RACE opened at $442.66 on Wednesday. Ferrari has a one year low of $399.27 and a one year high of $509.13. 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 company has a market cap of $107.29 billion, a price-to-earnings ratio of 48.38, a PEG ratio of 4.43 and a beta of 0.94. The firm has a fifty day moving average price of $452.75 and a two-hundred day moving average price of $456.16.

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 issued a dividend of $3.1265 per share. This is an increase 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 payout ratio is currently 5.63%.

Wall Street Analysts Forecast Growth

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

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.