Ferrari (NYSE:RACE) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC increased its holdings in shares of Ferrari (NYSE:RACE) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,307 shares of the company’s stock after buying an additional 92 shares during the period. CreativeOne Wealth LLC’s holdings in Ferrari were worth $980,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RACE. HBK Sorce Advisory LLC grew its position in shares of Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after buying an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc lifted its stake in Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after buying an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Ferrari by 9.8% during the fourth quarter. Fifth Third Bancorp now owns 393 shares of the company’s stock worth $167,000 after buying an additional 35 shares during the period.

Wall Street Analyst Weigh In

RACE has been the subject of several recent research reports. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. 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 research note on Thursday, March 27th. UBS Group dropped their price target on Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $486.67.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $433.43 on Thursday. The business has a 50-day moving average of $451.36 and a two-hundred day moving average of $447.72. The firm has a market capitalization of $105.05 billion, a PE ratio of 47.37, a P/E/G ratio of 4.43 and a beta of 1.03. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. 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 firm also recently disclosed 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. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is presently 5.63%.

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.