Two Sigma Securities LLC Reduces Stake in Ferrari (NYSE:RACE)

Two Sigma Securities LLC reduced its position in Ferrari (NYSE:RACE - Free Report) by 84.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769 shares of the company's stock after selling 4,136 shares during the period. Two Sigma Securities LLC's holdings in Ferrari were worth $327,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. HBK Sorce Advisory LLC boosted its stake in shares of Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after acquiring an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock valued at $251,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc lifted its holdings in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock valued at $250,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock valued at $140,000 after purchasing an additional 30 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Ferrari by 9.8% in the 4th quarter. Fifth Third Bancorp now owns 393 shares of the company's stock valued at $167,000 after purchasing an additional 35 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on RACE shares. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. reduced their target price 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, UBS Group cut their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Stock Performance

Ferrari stock opened at $457.94 on Tuesday. The stock has a market cap of $110.99 billion, a P/E ratio of 50.05, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $444.52 and a 200-day moving average of $447.04. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This is a boost from Ferrari's previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari's dividend payout ratio 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.

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