MML Investors Services LLC Sells 758 Shares of Ferrari (NYSE:RACE)

MML Investors Services LLC lowered its stake in Ferrari (NYSE:RACE - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,725 shares of the company's stock after selling 758 shares during the quarter. MML Investors Services LLC's holdings in Ferrari were worth $8,805,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after purchasing an additional 755 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Ferrari in the 4th quarter valued at approximately $853,000. Russell Investments Group Ltd. raised its holdings in Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock valued at $54,847,000 after buying an additional 3,277 shares during the last quarter. Sapient Capital LLC boosted its position 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 period. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Ferrari during the 4th quarter worth approximately $3,371,000.

Ferrari Trading Up 0.7 %

Shares of NYSE:RACE traded up $3.20 during mid-day trading on Tuesday, hitting $461.40. The company had a trading volume of 81,592 shares, compared to its average volume of 327,968. The company has a market capitalization of $111.83 billion, a PE ratio of 50.40, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. Ferrari has a one year low of $391.54 and a one year high of $509.13. The firm has a fifty day moving average price of $444.52 and a 200 day moving average price of $447.04. 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 business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. 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 is 5.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RACE shares. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $481.60.

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.