Ferrari (NYSE:RACE) Shares Purchased by Axiom Investors LLC DE

Axiom Investors LLC DE boosted its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 48.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,959 shares of the company's stock after purchasing an additional 9,772 shares during the quarter. Axiom Investors LLC DE's holdings in Ferrari were worth $12,728,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RACE. O Shaughnessy Asset Management LLC increased its position in shares of Ferrari by 12.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,805 shares of the company's stock valued at $3,741,000 after purchasing an additional 948 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Ferrari by 3.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 163,787 shares of the company's stock valued at $70,965,000 after acquiring an additional 5,761 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ferrari in the 4th quarter worth about $13,456,000. Allianz SE purchased a new position in shares of Ferrari during the 4th quarter worth about $8,611,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Ferrari by 0.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 7,709 shares of the company's stock valued at $3,275,000 after purchasing an additional 71 shares during the last quarter.

Ferrari Stock Up 1.8 %

Shares of RACE traded up $7.79 during trading hours on Wednesday, hitting $438.40. The company had a trading volume of 595,540 shares, compared to its average volume of 308,537. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $106.26 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company's fifty day moving average price is $455.66 and its two-hundred day moving average price is $451.63.

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Ferrari Increases Dividend

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

Wall Street Analyst Weigh In

RACE has been the subject of several recent analyst reports. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. Finally, UBS Group dropped their target price on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $498.86.

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.