Ferrari N.V. $RACE Stock Holdings Decreased by U S Global Investors Inc.

U S Global Investors Inc. lessened its stake in Ferrari N.V. (NYSE:RACE) by 28.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,815 shares of the company’s stock after selling 2,350 shares during the period. U S Global Investors Inc.’s holdings in Ferrari were worth $2,149,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RACE. Groupama Asset Managment lifted its holdings in Ferrari by 5.7% during the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after buying an additional 916,821 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,154,944 shares of the company’s stock valued at $2,498,710,000 after acquiring an additional 81,017 shares during the last quarter. Amundi increased its holdings in shares of Ferrari by 8.0% in the 3rd quarter. Amundi now owns 2,972,368 shares of the company’s stock valued at $1,461,008,000 after acquiring an additional 219,909 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Ferrari by 63.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock valued at $1,295,907,000 after acquiring an additional 1,039,234 shares in the last quarter. Finally, Bank of Italy lifted its stake in Ferrari by 2.3% during the third quarter. Bank of Italy now owns 2,462,771 shares of the company’s stock worth $1,190,158,000 after purchasing an additional 55,500 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on RACE. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a report on Wednesday, February 11th. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their price target on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Morgan Stanley set a $420.00 price objective on shares of Ferrari in a research report on Monday, February 16th. Finally, Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Trading Down 1.1%

Shares of NYSE:RACE opened at $354.46 on Friday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10. The company’s 50-day moving average price is $350.08 and its 200 day moving average price is $370.12. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74. The company has a market cap of $82.93 billion, a PE ratio of 35.06, a P/E/G ratio of 3.39 and a beta of 1.00.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be paid a $3.615 dividend. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a dividend yield of 119.0%. This is a boost from Ferrari’s previous annual dividend of $3.13.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.