Capital Wealth Planning LLC Buys 736 Shares of Ferrari (NYSE:RACE)

Capital Wealth Planning LLC grew its stake in Ferrari (NYSE:RACE) by 8.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,106 shares of the company’s stock after purchasing an additional 736 shares during the quarter. Capital Wealth Planning LLC’s holdings in Ferrari were worth $3,869,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Metis Global Partners LLC grew its holdings in shares of Ferrari by 5.3% in the 4th quarter. Metis Global Partners LLC now owns 3,588 shares of the company’s stock valued at $1,533,000 after acquiring an additional 181 shares in the last quarter. Wiser Advisor Group LLC lifted its stake in Ferrari by 15.5% in the 4th quarter. Wiser Advisor Group LLC now owns 1,303 shares of the company’s stock valued at $554,000 after purchasing an additional 175 shares during the last quarter. SVB Wealth LLC acquired a new stake in Ferrari in the 4th quarter valued at about $258,000. Mutual of America Capital Management LLC lifted its stake in Ferrari by 5.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 23,517 shares of the company’s stock valued at $10,029,000 after purchasing an additional 1,232 shares during the last quarter. Finally, Illumine Investment Management LLC acquired a new stake in Ferrari in the 4th quarter valued at about $656,000.

Wall Street Analyst Weigh In

RACE has been the subject of several recent analyst reports. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Finally, UBS Group raised their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Trading Up 0.9 %

Shares of RACE stock opened at $464.47 on Friday. The firm has a 50 day moving average price of $449.85 and a two-hundred day moving average price of $457.01. 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 $113.21 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13.

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 issued a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) 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.