Greykasell Wealth Strategies Inc. Purchases Shares of 480 Ferrari (NYSE:RACE)

Greykasell Wealth Strategies Inc. acquired a new position in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 480 shares of the company’s stock, valued at approximately $204,000.

Other large investors have also modified their holdings of the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. increased its position in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Ferrari in the 4th quarter valued at about $45,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at about $47,000. Finally, Plato Investment Management Ltd purchased a new position in Ferrari during the 4th quarter worth approximately $53,000.

Ferrari Stock Up 2.0 %

Shares of NYSE:RACE opened at $449.42 on Friday. The company has a market cap of $108.93 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The firm’s 50-day simple moving average is $454.38 and its 200-day simple moving average is $455.56. 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 firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This represents a dividend yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is 5.63%.

Wall Street Analyst Weigh In

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

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.