Cynosure Group LLC Sells 228 Shares of Ferrari (NYSE:RACE)

Cynosure Group LLC reduced its position in shares of Ferrari (NYSE:RACE) by 23.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 725 shares of the company’s stock after selling 228 shares during the period. Cynosure Group LLC’s holdings in Ferrari were worth $308,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Ferrari by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock worth $4,307,000 after buying an additional 755 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Ferrari in the fourth quarter valued at approximately $853,000. Sapient Capital LLC lifted its position in shares of Ferrari by 1.0% in the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after buying an additional 653 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ferrari during the 4th quarter valued at $3,371,000. Finally, Allworth Financial LP boosted its position in Ferrari by 35.1% during the fourth quarter. Allworth Financial LP now owns 327 shares of the company’s stock worth $141,000 after purchasing an additional 85 shares during the period.

Ferrari Stock Performance

Shares of Ferrari stock opened at $438.40 on Thursday. The company’s 50 day moving average price is $455.78 and its two-hundred day moving average price is $451.54. The firm has a market capitalization of $106.26 billion, a P/E ratio of 47.91, a P/E/G ratio of 4.43 and a beta of 0.94. 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.

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. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Analysts Set New Price Targets

RACE has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. UBS Group decreased their price objective on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $498.86.

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.