TD Asset Management Inc. Sells 1,591 Shares of Ferrari (NYSE:RACE)

TD Asset Management Inc. cut its stake in Ferrari (NYSE:RACE) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349,494 shares of the company’s stock after selling 1,591 shares during the period. TD Asset Management Inc.’s holdings in Ferrari were worth $148,613,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Ferrari during the third quarter worth $47,000. Armstrong Advisory Group Inc. increased its holdings in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Ferrari in the 4th quarter valued at $45,000. Finally, Plato Investment Management Ltd bought a new position in shares of Ferrari during the 4th quarter worth about $53,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays lowered 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 report on Thursday, February 6th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Down 0.4 %

Shares of RACE opened at $433.99 on Wednesday. The company has a market capitalization of $105.19 billion, a P/E ratio of 47.43, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a one year low of $399.27 and a one year high of $509.13. The business’s 50 day simple moving average is $456.62 and its 200-day simple moving average is $453.21. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is currently 5.63%.

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.