Ycg LLC Grows Position in Ferrari (NYSE:RACE)

Ycg LLC increased its position in shares of Ferrari (NYSE:RACE) by 0.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,843 shares of the company’s stock after buying an additional 57 shares during the quarter. Ferrari accounts for about 1.2% of Ycg LLC’s holdings, making the stock its 28th biggest position. Ycg LLC’s holdings in Ferrari were worth $15,228,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sapient Capital LLC grew its stake in Ferrari by 1.0% during the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after buying an additional 653 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the last quarter. Allworth Financial LP grew its stake in shares of Ferrari by 35.1% in the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after purchasing an additional 85 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ferrari by 2.4% in 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 purchasing an additional 38,356 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ferrari by 156.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock valued at $2,731,000 after purchasing an additional 3,900 shares during the last quarter.

Wall Street Analyst Weigh In

RACE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

Shares of RACE stock opened at $442.66 on Wednesday. The stock has a fifty day moving average price of $452.75 and a 200 day moving average price of $456.16. The stock has a market cap of $107.29 billion, a PE ratio of 48.38, a P/E/G ratio of 4.43 and a beta of 0.94. Ferrari has a 1 year low of $399.27 and a 1 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 company also recently disclosed 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. 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%.

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.