Ferrari (NYSE:RACE) Stake Cut by TD Asset Management Inc.

TD Asset Management Inc. lessened its holdings in shares of Ferrari (NYSE:RACE) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,494 shares of the company’s stock after selling 1,591 shares during the quarter. TD Asset Management Inc. owned approximately 0.14% of Ferrari worth $148,613,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari in the fourth quarter worth $26,000. Armstrong Advisory Group Inc. grew its stake 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 purchasing an additional 50 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Ferrari in the 4th quarter worth about $45,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ferrari during the 3rd quarter worth about $47,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Ferrari during the 4th quarter valued at about $53,000.

Ferrari Stock Performance

NYSE:RACE opened at $433.99 on Wednesday. The firm has a market capitalization of $105.19 billion, a PE ratio of 47.43, a PEG ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The firm’s fifty day simple moving average is $456.62 and its 200 day simple moving average is $453.21.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is an increase 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 dividend payout ratio (DPR) is currently 5.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

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.