Level Four Advisory Services LLC Has $876,000 Position in Ferrari (NYSE:RACE)

Level Four Advisory Services LLC lifted its stake in shares of Ferrari (NYSE:RACE) by 9.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,061 shares of the company’s stock after buying an additional 170 shares during the quarter. Level Four Advisory Services LLC’s holdings in Ferrari were worth $876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RACE. Hanson & Doremus Investment Management acquired a new stake in Ferrari during the fourth quarter worth approximately $26,000. Armstrong Advisory Group Inc. grew its position in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Ferrari during the fourth quarter worth approximately $45,000. Hobbs Group Advisors LLC acquired a new stake in Ferrari during the 3rd quarter worth approximately $47,000. Finally, Plato Investment Management Ltd bought a new stake in Ferrari in the 4th quarter valued at $53,000.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $429.93 on Monday. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The stock has a market capitalization of $104.21 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company’s 50 day simple moving average is $456.00 and its 200 day simple moving average is $452.20.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $497.86.

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.