Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $272,000 Position in Ferrari (NYSE:RACE)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Ferrari (NYSE:RACE) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 803 shares of the company’s stock after buying an additional 76 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Ferrari were worth $272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RACE. Blue Trust Inc. raised its stake in Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares in the last quarter. Merlin Capital Inc increased its position in shares of Ferrari by 1.3% during the 3rd quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after purchasing an additional 32 shares in the last quarter. Allworth Financial LP boosted its position in Ferrari by 17.0% in the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock valued at $86,000 after buying an additional 37 shares in the last quarter. Lindbrook Capital LLC boosted its position in Ferrari by 8.1% in the fourth quarter. Lindbrook Capital LLC now owns 508 shares of the company’s stock valued at $172,000 after buying an additional 38 shares in the last quarter. Finally, PICTET BANK & TRUST Ltd grew its stake in Ferrari by 0.9% during the third quarter. PICTET BANK & TRUST Ltd now owns 4,695 shares of the company’s stock worth $1,390,000 after buying an additional 40 shares during the last quarter.

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of research analyst reports. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Evercore ISI raised their price target on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Citigroup cut Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. UBS Group increased their price target on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Sanford C. Bernstein increased their price target on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $439.50.

Ferrari Price Performance

Shares of NYSE RACE opened at $407.21 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. The business has a 50-day moving average of $421.57 and a 200-day moving average of $377.69. The stock has a market capitalization of $75.23 billion, a price-to-earnings ratio of 54.66, a PEG ratio of 3.29 and a beta of 0.98. Ferrari has a fifty-two week low of $283.20 and a fifty-two week high of $442.80.

Ferrari Announces Dividend

The business also recently declared an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were given a dividend of $2.443 per share. This represents a dividend yield of 0.62%. The ex-dividend date was Monday, April 22nd. Ferrari’s dividend payout ratio (DPR) is 6.91%.

About Ferrari

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.