Whittier Trust Co. of Nevada Inc. Raises Position in Ferrari (NYSE:RACE)

Whittier Trust Co. of Nevada Inc. raised its stake in Ferrari (NYSE:RACE) by 41.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,787 shares of the company’s stock after purchasing an additional 527 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Ferrari were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HBK Sorce Advisory LLC grew its holdings in Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after purchasing an additional 22 shares during the period. Elite Wealth Management Inc. grew 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 purchasing an additional 25 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after purchasing an additional 25 shares during the period. PDS Planning Inc grew its holdings in Ferrari by 4.8% during the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the period.

Ferrari Trading Down 1.8 %

Shares of RACE stock opened at $436.10 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. The company has a market capitalization of $105.70 billion, a PE ratio of 47.66, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The business’s fifty day moving average is $456.03 and its 200 day moving average is $454.00.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given 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 an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Analysts Set New Price Targets

RACE has been the subject of several research reports. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.