Bank of Montreal Can Acquires 22,486 Shares of Ferrari (NYSE:RACE)

Bank of Montreal Can raised its holdings in Ferrari (NYSE:RACE - Free Report) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,025 shares of the company's stock after buying an additional 22,486 shares during the quarter. Bank of Montreal Can owned 0.08% of Ferrari worth $86,678,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RACE. Fox Run Management L.L.C. bought a new stake in Ferrari in the fourth quarter valued at about $853,000. Charles Schwab Investment Management Inc. boosted its holdings in Ferrari by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock valued at $4,307,000 after purchasing an additional 755 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock valued at $54,847,000 after purchasing an additional 3,277 shares during the period. Sapient Capital LLC raised its holdings in shares of Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after buying an additional 653 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Ferrari in the 4th quarter worth approximately $3,371,000.

Ferrari Price Performance

Shares of RACE stock traded up $3.83 during trading hours on Monday, reaching $432.41. 113,755 shares of the company were exchanged, compared to its average volume of 325,761. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. 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 stock's fifty day moving average is $452.86 and its two-hundred day moving average is $448.21. The company has a market cap of $104.81 billion, a price-to-earnings ratio of 47.26, a P/E/G ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This represents a yield of 0.5%. 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. Ferrari's dividend payout ratio (DPR) is presently 5.63%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RACE shares. UBS Group lowered their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their target price on shares of 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 started coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. Finally, Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $486.67.

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.