Pictet Asset Management Holding SA Sells 4,820 Shares of Ferrari (NYSE:RACE)

Pictet Asset Management Holding SA reduced its holdings in Ferrari (NYSE:RACE) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 457,693 shares of the company’s stock after selling 4,820 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ferrari were worth $195,442,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of Ferrari during the 4th quarter worth about $853,000. Charles Schwab Investment Management Inc. grew its stake in Ferrari by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock valued at $4,307,000 after acquiring an additional 755 shares during the period. Sapient Capital LLC increased its holdings in shares of Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after acquiring an additional 653 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Ferrari during the fourth quarter worth approximately $3,371,000. Finally, Allworth Financial LP lifted its holdings in shares of Ferrari by 35.1% in the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock worth $141,000 after purchasing an additional 85 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $497.86.

Ferrari Price Performance

Shares of NYSE RACE opened at $429.93 on Friday. The firm has a market cap of $104.21 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock has a fifty day simple moving average of $456.00 and a two-hundred day simple moving average of $452.46. 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.

Ferrari Increases Dividend

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

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.