110,414 Shares in Ferrari (NYSE:RACE) Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership purchased a new position in shares of Ferrari (NYSE:RACE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 110,414 shares of the company's stock, valued at approximately $46,908,000.

A number of other large investors also recently bought and sold shares of the company. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari during the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. boosted its stake in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after purchasing an additional 50 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Ferrari in the fourth quarter worth about $45,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $47,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Ferrari during the 4th quarter valued at $53,000.

Ferrari Price Performance

NYSE:RACE traded up $2.87 during mid-day trading on Tuesday, hitting $430.75. The company's stock had a trading volume of 594,578 shares, compared to its average volume of 307,391. The stock has a fifty day moving average of $455.66 and a 200-day moving average of $451.63. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The company has a market capitalization of $104.40 billion, a price-to-earnings ratio of 47.08, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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Ferrari Increases Dividend

The company 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 $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is 5.63%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RACE. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Finally, UBS Group cut their price objective on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Ferrari currently has an average rating of "Moderate Buy" and a consensus price target of $498.86.

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.