Nebula Research & Development LLC Lowers Position in Ferrari (NYSE:RACE)

Nebula Research & Development LLC lessened its stake in shares of Ferrari (NYSE:RACE) by 75.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 780 shares of the company’s stock after selling 2,412 shares during the quarter. Nebula Research & Development LLC’s holdings in Ferrari were worth $331,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Ferrari by 6.1% during the 3rd quarter. Barclays PLC now owns 286,564 shares of the company’s stock worth $134,719,000 after acquiring an additional 16,428 shares in the last quarter. Morse Asset Management Inc grew its holdings in Ferrari by 1.6% in the third quarter. Morse Asset Management Inc now owns 5,239 shares of the company’s stock worth $2,462,000 after purchasing an additional 83 shares during the last quarter. Sculati Wealth Management LLC increased its position in shares of Ferrari by 2.0% during the third quarter. Sculati Wealth Management LLC now owns 6,029 shares of the company’s stock worth $2,628,000 after purchasing an additional 120 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ferrari during the 3rd quarter valued at $417,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Ferrari by 60.0% during the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock valued at $10,707,000 after purchasing an additional 8,267 shares during the last quarter.

Ferrari Price Performance

NYSE:RACE opened at $461.15 on Thursday. The firm’s fifty day moving average is $442.75 and its two-hundred day moving average is $447.24. The firm has a market cap of $111.77 billion, a price-to-earnings ratio of 50.40, a PEG ratio of 4.43 and a beta of 1.03. Ferrari has a one year low of $391.54 and a one year high of $509.13. 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 Increases Dividend

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

Wall Street Analysts Forecast Growth

RACE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. UBS Group decreased their price objective on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $481.60.

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.