Alliancebernstein L.P. Decreases Position in Ferrari (NYSE:RACE)

Alliancebernstein L.P. cut its stake in shares of Ferrari (NYSE:RACE) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,635,392 shares of the company’s stock after selling 18,346 shares during the quarter. Alliancebernstein L.P.’s holdings in Ferrari were worth $694,780,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Axiom Investors LLC DE lifted its stake in Ferrari by 48.4% in the fourth quarter. Axiom Investors LLC DE now owns 29,959 shares of the company’s stock worth $12,728,000 after acquiring an additional 9,772 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Ferrari by 12.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,805 shares of the company’s stock worth $3,741,000 after purchasing an additional 948 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Ferrari by 3.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 163,787 shares of the company’s stock worth $70,965,000 after purchasing an additional 5,761 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Ferrari in the fourth quarter valued at $13,456,000. Finally, Allianz SE acquired a new stake in Ferrari in the fourth quarter valued at $8,611,000.

Ferrari Stock Performance

NYSE RACE opened at $429.93 on Monday. The stock has a market capitalization of $104.21 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 4.43 and a beta of 0.94. The business’s 50 day moving average is $456.00 and its two-hundred day moving average is $452.20. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. 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 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 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

A number of analysts have weighed in on RACE shares. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $497.86.

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.