Huntleigh Advisors Inc. Purchases Shares of 5,400 Ferrari N.V. $RACE

Key Points

• Huntleigh Advisors opened a new position in Ferrari N.V. (RACE) during Q4, purchasing 5,400 shares worth roughly $1.996 million.
• Analysts carry a consensus rating of Moderate Buy with a consensus target of $469.06; JPMorgan raised its price target to $447 and maintained an "overweight" rating.
• Ferrari boosted its annual dividend to $3.615 (up from $3.13), with an ex‑dividend/record date on April 21 and a payment scheduled for May 5.

Huntleigh Advisors Inc. acquired a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,400 shares of the company's stock, valued at approximately $1,996,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in Ferrari during the 3rd quarter worth approximately $27,000. Westside Investment Management Inc. grew its position in Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company's stock worth $27,000 after purchasing an additional 28 shares in the last quarter. Root Financial Partners LLC purchased a new position in Ferrari during the 3rd quarter worth approximately $28,000. Community Bank N.A. purchased a new position in Ferrari during the 3rd quarter worth approximately $33,000. Finally, CX Institutional grew its position in Ferrari by 227.3% during the 3rd quarter. CX Institutional now owns 72 shares of the company's stock worth $35,000 after purchasing an additional 50 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on RACE shares. JPMorgan Chase & Co. lifted their price objective on shares of Ferrari from $407.00 to $447.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. HSBC reiterated a "hold" rating on shares of Ferrari in a research report on Tuesday, January 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Ferrari in a research report on Friday, April 10th. Zacks Research upgraded shares of Ferrari from a "strong sell" rating to a "hold" rating in a research report on Monday, February 2nd. Finally, Morgan Stanley set a $420.00 price target on shares of Ferrari in a report on Monday, February 16th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $469.06.

Ferrari Trading Down 0.5%

Ferrari stock opened at $352.30 on Friday. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The company's fifty day moving average price is $349.55 and its two-hundred day moving average price is $368.31. The company has a market capitalization of $82.42 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 3.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be paid a $3.615 dividend. The ex-dividend date is Tuesday, April 21st. This is a boost from Ferrari's previous annual dividend of $3.13. This represents a dividend yield of 119.0%. Ferrari's dividend payout ratio is presently 5.09%.

Ferrari Company Profile

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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