Ferrari (NYSE:RACE) Position Reduced by Fox Hill Wealth Management

Fox Hill Wealth Management trimmed its stake in shares of Ferrari (NYSE:RACE) by 19.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,642 shares of the company’s stock after selling 652 shares during the quarter. Fox Hill Wealth Management’s holdings in Ferrari were worth $1,122,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RACE. Jennison Associates LLC boosted its stake in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after acquiring an additional 2,636,869 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock worth $107,770,000 after buying an additional 192,694 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Ferrari by 1,226.4% in the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company’s stock worth $56,153,000 after buying an additional 122,690 shares during the last quarter. Quadrature Capital Ltd lifted its position in shares of Ferrari by 83.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after buying an additional 104,366 shares during the last quarter.

Ferrari Stock Down 1.8 %

RACE stock opened at $446.19 on Wednesday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The firm’s 50-day simple moving average is $455.30 and its 200 day simple moving average is $454.73. The stock has a market cap of $108.15 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

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. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RACE shares. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ferrari 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.