Rakuten Securities Inc. Decreases Stock Position in Ferrari (NYSE:RACE)

Rakuten Securities Inc. trimmed its holdings in shares of Ferrari (NYSE:RACE) by 14.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346 shares of the company’s stock after selling 57 shares during the period. Rakuten Securities Inc.’s holdings in Ferrari were worth $147,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Jennison Associates LLC lifted its holdings in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares in the last quarter. Bank of Italy raised its position in Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after buying an additional 63,675 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after acquiring an additional 38,356 shares during the period. Banco Santander S.A. boosted its holdings in shares of Ferrari by 4.2% during the 4th quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock valued at $176,190,000 after acquiring an additional 16,663 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Ferrari by 0.5% in the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock worth $177,157,000 after acquiring an additional 1,914 shares during the period.

Ferrari Trading Up 2.0 %

Shares of NYSE:RACE opened at $450.27 on Thursday. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The company has a market cap of $109.13 billion, a PE ratio of 49.21, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock has a 50 day moving average of $453.26 and a 200 day moving average of $456.12. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

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.