Metis Global Partners LLC Has $1.24 Million Holdings in Ferrari (NYSE:RACE)

Metis Global Partners LLC grew its holdings in shares of Ferrari (NYSE:RACE) by 11.8% in the 4th quarter, Holdings Channel reports. The fund owned 3,683 shares of the company’s stock after buying an additional 390 shares during the period. Metis Global Partners LLC’s holdings in Ferrari were worth $1,241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in Ferrari by 1.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock worth $1,437,000 after acquiring an additional 40 shares during the last quarter. Vanguard Group Inc. boosted its position in Ferrari by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after buying an additional 61,132 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Ferrari by 12.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after acquiring an additional 230 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in Ferrari in the 3rd quarter valued at approximately $157,620,000. Finally, Syntal Capital Partners LLC bought a new position in shares of Ferrari during the third quarter valued at $511,000.

Ferrari Trading Up 1.3 %

NYSE RACE opened at $406.22 on Thursday. The stock has a market capitalization of $75.05 billion, a P/E ratio of 54.53, a P/E/G ratio of 3.29 and a beta of 0.98. The business has a 50 day simple moving average of $422.01 and a 200 day simple moving average of $377.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. Ferrari has a one year low of $283.20 and a one year high of $442.80.

Ferrari Announces Dividend

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

Analysts Set New Price Targets

RACE has been the topic of several analyst reports. UBS Group boosted their price objective on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. Sanford C. Bernstein raised their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Citigroup downgraded shares of Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ferrari has a consensus rating of “Hold” and an average price target of $439.50.

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.