Natixis Advisors LLC Reduces Position in Ferrari (NYSE:RACE)

Natixis Advisors LLC lessened its stake in shares of Ferrari (NYSE:RACE) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,474 shares of the company’s stock after selling 11,213 shares during the quarter. Natixis Advisors LLC owned approximately 0.05% of Ferrari worth $52,457,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the fourth quarter worth $26,000. Armstrong Advisory Group Inc. lifted its stake in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares during the period. Kestra Investment Management LLC purchased a new position in Ferrari during the fourth quarter valued at $45,000. Hobbs Group Advisors LLC purchased a new position in Ferrari during the third quarter valued at $47,000. Finally, Plato Investment Management Ltd purchased a new position in Ferrari during the fourth quarter valued at $53,000.

Wall Street Analysts Forecast Growth

RACE has been the subject of several recent research reports. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Price Performance

Shares of NYSE:RACE opened at $449.42 on Friday. Ferrari has a 1-year low of $399.27 and a 1-year 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. The business has a fifty day moving average price of $454.38 and a 200-day moving average price of $455.56. The company has a market capitalization of $108.93 billion, a PE ratio of 49.12, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

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.