Jones Financial Companies Lllp Has $2.27 Million Stock Holdings in Ferrari (NYSE:RACE)

Jones Financial Companies Lllp lifted its holdings in shares of Ferrari (NYSE:RACE) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,337 shares of the company’s stock after purchasing an additional 718 shares during the quarter. Jones Financial Companies Lllp’s holdings in Ferrari were worth $2,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RACE. Elite Wealth Management Inc. raised its holdings in Ferrari by 1.0% during the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after buying an additional 25 shares in the last quarter. Addison Advisors LLC lifted its holdings in Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after purchasing an additional 26 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after purchasing an additional 30 shares during the period. Caprock Group LLC grew its holdings in Ferrari by 1.7% during the third quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after purchasing an additional 31 shares during the last quarter. Finally, EWA LLC raised its position in shares of Ferrari by 6.6% in the third quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after purchasing an additional 32 shares during the period.

Analysts Set New Price Targets

RACE has been the topic of a number of research analyst reports. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group lifted their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Price Performance

Shares of RACE stock opened at $458.40 on Thursday. The company has a market capitalization of $111.10 billion, a P/E ratio of 50.10, a P/E/G 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. The stock has a 50 day moving average of $451.53 and a two-hundred day moving average of $457.11.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is currently 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.