Callan Family Office LLC Acquires New Holdings in Ferrari (NYSE:RACE)

Callan Family Office LLC acquired a new stake in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,122 shares of the company’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. purchased a new position in shares of Ferrari in the third quarter worth approximately $267,000. Portside Wealth Group LLC boosted its holdings in shares of Ferrari by 14.0% in the third quarter. Portside Wealth Group LLC now owns 602 shares of the company’s stock worth $283,000 after buying an additional 74 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Ferrari by 11.8% in the third quarter. Verdence Capital Advisors LLC now owns 2,277 shares of the company’s stock worth $1,070,000 after buying an additional 240 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Ferrari by 11.1% in the third quarter. Assetmark Inc. now owns 1,550 shares of the company’s stock worth $729,000 after buying an additional 155 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of Ferrari by 15.8% in the third quarter. Lindbrook Capital LLC now owns 573 shares of the company’s stock worth $269,000 after buying an additional 78 shares during the last quarter.

Ferrari Stock Performance

NYSE:RACE opened at $450.14 on Monday. 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 price of $452.18 and a 200 day moving average price of $456.73. The stock has a market capitalization of $109.10 billion, a P/E ratio of 49.20, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Analysts Set New Price Targets

RACE has been the topic of a number of research reports. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note 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 given a buy rating to the stock. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $507.14.

About Ferrari

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.