Ferrari (NYSE:RACE) Stake Lifted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its stake in shares of Ferrari (NYSE:RACE) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,517 shares of the company’s stock after acquiring an additional 1,232 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ferrari were worth $10,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the 4th quarter valued at about $26,000. Planning Capital Management Corp bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in Ferrari during the third quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new stake in Ferrari during the third quarter worth approximately $47,000. Finally, Armstrong Advisory Group Inc. grew its position in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares during the last quarter.

Ferrari Trading Up 0.9 %

NYSE:RACE opened at $464.47 on Friday. The stock has a market cap of $113.21 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The stock’s 50-day moving average is $449.85 and its two-hundred day moving average is $457.01.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This represents a yield of 0.5%. 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. Ferrari’s dividend payout ratio is currently 5.63%.

Wall Street Analyst Weigh In

RACE has been the subject of a number of recent research reports. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

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.