TD Private Client Wealth LLC Reduces Position in Ferrari (NYSE:RACE)

TD Private Client Wealth LLC lowered its holdings in Ferrari (NYSE:RACE) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 413 shares of the company’s stock after selling 222 shares during the period. TD Private Client Wealth LLC’s holdings in Ferrari were worth $176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RACE. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the 4th quarter worth about $26,000. Armstrong Advisory Group Inc. increased its holdings in Ferrari by 100.0% in the fourth 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 last quarter. Kestra Investment Management LLC acquired a new stake in Ferrari during the fourth quarter valued at approximately $45,000. Hobbs Group Advisors LLC bought a new position in Ferrari during the 3rd quarter worth approximately $47,000. Finally, Plato Investment Management Ltd bought a new position in Ferrari during the 4th quarter worth approximately $53,000.

Ferrari Stock Performance

RACE stock opened at $433.99 on Wednesday. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The stock has a market capitalization of $105.19 billion, a price-to-earnings ratio of 47.43, a PEG ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock’s fifty day moving average is $456.62 and its two-hundred day moving average is $453.21.

Ferrari Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RACE. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Three research 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, the company presently has an average rating of “Moderate Buy” and an average target price 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.