Whittier Trust Co. Buys 1,456 Shares of Ferrari (NYSE:RACE)

Whittier Trust Co. lifted its stake in Ferrari (NYSE:RACE) by 35.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,558 shares of the company’s stock after acquiring an additional 1,456 shares during the quarter. Whittier Trust Co.’s holdings in Ferrari were worth $2,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the fourth quarter worth approximately $26,000. Armstrong Advisory Group Inc. grew its stake in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Ferrari in the fourth quarter worth approximately $45,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari in the third quarter worth approximately $47,000. Finally, Plato Investment Management Ltd bought a new stake in Ferrari during the fourth quarter valued at approximately $53,000.

Ferrari Price Performance

Shares of NYSE:RACE opened at $436.10 on Friday. 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 has a 1-year low of $399.27 and a 1-year high of $509.13. The company has a market capitalization of $105.70 billion, a P/E ratio of 47.66, a P/E/G ratio of 4.43 and a beta of 0.94. The firm’s 50 day simple moving average is $456.03 and its two-hundred day simple moving average is $454.22.

Ferrari Increases Dividend

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

Analysts Set New Price Targets

RACE has been the subject of several recent research reports. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.