Lake Street Advisors Group LLC Has $800,000 Position in Ferrari (NYSE:RACE)

Lake Street Advisors Group LLC lessened its holdings in shares of Ferrari (NYSE:RACE) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,884 shares of the company’s stock after selling 22 shares during the period. Lake Street Advisors Group LLC’s holdings in Ferrari were worth $800,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Ferrari during the third quarter worth $29,000. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari during the 4th quarter worth about $26,000. Planning Capital Management Corp bought a new stake in shares of Ferrari in the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at approximately $33,000. Finally, Hobbs Group Advisors LLC bought a new position in Ferrari during the 3rd quarter worth approximately $47,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RACE. UBS Group increased their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Down 4.9 %

Shares of Ferrari stock opened at $479.66 on Thursday. The firm has a market cap of $116.92 billion, a PE ratio of 52.42, a P/E/G ratio of 4.43 and a beta of 0.95. The business’s 50 day simple moving average is $448.41 and its 200 day simple moving average is $456.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13.

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 issued a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is 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.