Ferrari (NYSE:RACE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of Ferrari (NYSE:RACE) by 6.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,528 shares of the company’s stock after selling 181 shares during the period. Thrivent Financial for Lutherans’ holdings in Ferrari were worth $1,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari during the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. boosted its holdings in Ferrari by 100.0% in the fourth 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 last quarter. Kestra Investment Management LLC acquired a new stake in Ferrari during the 4th quarter valued at approximately $45,000. Hobbs Group Advisors LLC purchased a new stake in Ferrari during the 3rd quarter worth approximately $47,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Ferrari in the 4th quarter valued at approximately $53,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on RACE. JPMorgan Chase & Co. dropped 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. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $497.86.

Ferrari Price Performance

Shares of NYSE RACE opened at $428.71 on Tuesday. 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 firm has a market capitalization of $103.91 billion, a PE ratio of 46.85, 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 business’s fifty day moving average price is $455.85 and its two-hundred day moving average price is $451.90.

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