Argentarii LLC Makes New Investment in Ferrari (NYSE:RACE)

Argentarii LLC purchased a new stake in Ferrari (NYSE:RACE) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,201 shares of the company’s stock, valued at approximately $1,360,000.

Other hedge funds have also made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new position in shares of Ferrari in the fourth quarter valued at $26,000. Planning Capital Management Corp purchased a new stake in Ferrari during the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new stake in Ferrari during the 3rd quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new stake in Ferrari during the 3rd quarter worth about $47,000. Finally, Armstrong Advisory Group Inc. increased its position in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Up 0.8 %

Shares of NYSE:RACE opened at $450.14 on Friday. The firm has a market cap of $109.10 billion, a price-to-earnings ratio of 49.20, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock’s 50-day moving average price is $452.18 and its two-hundred day moving average price is $456.88.

Ferrari Increases Dividend

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