Barclays PLC Boosts Stock Holdings in Ferrari (NYSE:RACE)

Barclays PLC increased its holdings in Ferrari (NYSE:RACE - Free Report) by 198.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 853,971 shares of the company's stock after purchasing an additional 567,407 shares during the period. Barclays PLC owned 0.35% of Ferrari worth $362,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RACE. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari during the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. raised its stake in Ferrari by 100.0% during 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 in the last quarter. Kestra Investment Management LLC bought a new position in Ferrari during the fourth quarter valued at $45,000. Plato Investment Management Ltd bought a new position in Ferrari during the fourth quarter valued at $53,000. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after buying an additional 120 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. Finally, UBS Group lowered their target price on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ferrari has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Trading Up 1.6 %

Shares of NYSE RACE traded up $7.01 during mid-day trading on Friday, reaching $439.76. The company had a trading volume of 239,651 shares, compared to its average volume of 327,939. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13. The business's 50-day moving average is $450.23 and its 200-day moving average is $447.40. The stock has a market cap of $106.59 billion, a price-to-earnings ratio of 48.06, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The business 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 dividend of $3.1265 per share. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is currently 5.63%.

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.