Avantax Advisory Services Inc. Sells 315 Shares of Ferrari (NYSE:RACE)

Avantax Advisory Services Inc. cut its holdings in Ferrari (NYSE:RACE) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,300 shares of the company’s stock after selling 315 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Ferrari were worth $1,827,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RACE. Elite Wealth Management Inc. boosted its position in shares of 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 buying an additional 25 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after acquiring an additional 25 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Ferrari by 10.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after acquiring an additional 30 shares during the period. Caprock Group LLC raised its holdings in shares of Ferrari by 1.7% during the third quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after purchasing an additional 31 shares during the last quarter. Finally, EWA LLC lifted its position in Ferrari by 6.6% during the third quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after purchasing an additional 32 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RACE shares. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 1.2 %

NYSE RACE opened at $454.62 on Tuesday. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $110.19 billion, a P/E ratio of 49.68, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock’s 50-day moving average price is $454.94 and its 200-day moving average price is $455.09.

Ferrari Increases Dividend

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

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.