Whipplewood Advisors LLC Makes New Investment in Ferrari (NYSE:RACE)

Whipplewood Advisors LLC purchased a new stake in Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 863 shares of the company’s stock, valued at approximately $367,000.

Several other large investors have also modified their holdings of RACE. Sapient Capital LLC raised its stake in Ferrari by 1.0% in the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after buying an additional 653 shares in the last quarter. Cerity Partners LLC raised its position in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ferrari by 156.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock worth $2,731,000 after purchasing an additional 3,900 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Ferrari by 123.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock valued at $3,826,000 after purchasing an additional 4,983 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Ferrari by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Down 4.9 %

NYSE:RACE opened at $479.66 on Thursday. The company has a market capitalization of $116.92 billion, a P/E ratio of 52.42, a PEG ratio of 4.43 and a beta of 0.95. 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 has a 12 month low of $399.27 and a 12 month high of $509.13. The firm has a fifty day simple moving average of $448.41 and a 200-day simple moving average of $456.52.

Ferrari Increases Dividend

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