Abacus FCF Advisors LLC Takes $189,000 Position in Ferrari (NYSE:RACE)

Abacus FCF Advisors LLC acquired a new position in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 444 shares of the company’s stock, valued at approximately $189,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hanson & Doremus Investment Management bought a new position in Ferrari during the 4th quarter worth about $26,000. Armstrong Advisory Group Inc. grew its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Ferrari during the fourth quarter worth about $45,000. Hobbs Group Advisors LLC acquired a new stake in Ferrari in the 3rd quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd bought a new stake in Ferrari in the 4th quarter valued at approximately $53,000.

Ferrari Trading Down 0.0 %

RACE stock opened at $398.50 on Wednesday. Ferrari has a one year low of $391.54 and a one year high of $509.13. The stock has a market cap of $96.59 billion, a price-to-earnings ratio of 43.55, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. The company has a fifty day moving average price of $453.51 and a two-hundred day moving average price of $449.53. 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 Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid 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 is 5.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RACE shares. JPMorgan Chase & Co. lowered their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two investment 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 a consensus target price of $490.29.

Ferrari 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.