Natixis Advisors LLC Sells 11,213 Shares of Ferrari (NYSE:RACE)

Natixis Advisors LLC trimmed its holdings in Ferrari (NYSE:RACE) by 8.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 123,474 shares of the company’s stock after selling 11,213 shares during the period. Natixis Advisors LLC’s holdings in Ferrari were worth $52,457,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari during the 4th quarter valued at about $26,000. Armstrong Advisory Group Inc. grew its stake in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Ferrari during the 4th quarter valued at about $45,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari during the 3rd quarter valued at about $47,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Ferrari during the 4th quarter valued at about $53,000.

Ferrari Stock Up 2.0 %

RACE stock opened at $449.42 on Friday. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a market cap of $108.93 billion, a P/E ratio of 49.12, a PEG ratio of 4.43 and a beta of 0.94. The business’s 50-day moving average price is $454.38 and its 200-day moving average price is $455.56.

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 issued a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s payout ratio is currently 5.63%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.