Ferrari N.V. $RACE Stock Position Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in Ferrari N.V. (NYSE:RACE) by 48.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,507 shares of the company’s stock after selling 42,736 shares during the period. Thrivent Financial for Lutherans’ holdings in Ferrari were worth $17,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Westside Investment Management Inc. boosted its stake in shares of Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after buying an additional 28 shares during the period. Root Financial Partners LLC acquired a new position in shares of Ferrari in the third quarter worth $28,000. Community Bank N.A. acquired a new position in shares of Ferrari in the third quarter worth $33,000. Westfuller Advisors LLC purchased a new stake in shares of Ferrari during the third quarter worth $43,000. Finally, CoreCap Advisors LLC raised its holdings in shares of Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after acquiring an additional 42 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RACE. Sanford C. Bernstein reiterated an “outperform” rating and set a $410.00 price target on shares of Ferrari in a report on Wednesday, February 11th. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a report on Wednesday, February 11th. UBS Group cut their price objective on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $469.06.

Ferrari Price Performance

Shares of NYSE:RACE opened at $324.68 on Tuesday. The business has a 50 day moving average price of $339.98 and a 200 day moving average price of $361.35. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The company has a market cap of $75.96 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 3.07 and a beta of 0.95. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st were paid a $3.615 dividend. The ex-dividend date was Tuesday, April 21st. This is a positive change from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 119.0%.

Ferrari 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.