Ferrari (NYSE:RACE) Shares Bought by PDS Planning Inc

PDS Planning Inc grew its position in Ferrari (NYSE:RACE) by 4.8% during the fourth quarter, Holdings Channel reports. The firm owned 589 shares of the company’s stock after acquiring an additional 27 shares during the period. PDS Planning Inc’s holdings in Ferrari were worth $250,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Hanson & Doremus Investment Management acquired a new position in Ferrari during the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. boosted its position in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Ferrari in the fourth quarter valued at $45,000. Hobbs Group Advisors LLC acquired a new position in shares of Ferrari in the third quarter worth about $47,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Ferrari during the 4th quarter worth about $53,000.

Ferrari Stock Performance

RACE opened at $453.34 on Thursday. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The firm has a market capitalization of $109.88 billion, a PE ratio of 49.55, 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. The firm’s 50-day moving average price is $455.70 and its 200 day moving average price is $454.72.

Ferrari Increases Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is 5.63%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RACE shares. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.