Ferrari (NYSE:RACE) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lessened its position in Ferrari (NYSE:RACE) by 28.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,210 shares of the company’s stock after selling 6,116 shares during the period. Ferrari comprises about 0.5% of Frank Rimerman Advisors LLC’s holdings, making the stock its 29th biggest position. Frank Rimerman Advisors LLC’s holdings in Ferrari were worth $6,462,000 as of its most recent SEC filing.

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

Ferrari Trading Up 2.0 %

RACE stock opened at $449.42 on Friday. The business’s 50 day moving average is $454.38 and its 200-day moving average is $455.80. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13. The firm has a market cap of $108.93 billion, a P/E ratio of 49.12, a P/E/G ratio of 4.43 and a beta of 0.94. 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. Investors of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s dividend payout ratio is 5.63%.

Wall Street Analysts Forecast Growth

RACE has been the topic of several recent research reports. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and an average target price 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.