Broadleaf Partners LLC Takes Position in Ferrari (NYSE:RACE)

Broadleaf Partners LLC purchased a new position in Ferrari (NYSE:RACE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,634 shares of the company's stock, valued at approximately $2,394,000.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after purchasing an additional 755 shares during the period. Fox Run Management L.L.C. bought a new stake in Ferrari during the fourth quarter worth about $853,000. Russell Investments Group Ltd. boosted its stake in Ferrari by 2.6% in the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after buying an additional 3,277 shares in the last quarter. Sapient Capital LLC boosted its stake in shares of Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock valued at $28,737,000 after purchasing an additional 653 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Ferrari in the fourth quarter worth about $3,371,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. UBS Group cut 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, April 1st. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Ferrari has an average rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Stock Performance

Shares of RACE stock traded up $0.61 on Wednesday, reaching $444.38. The stock had a trading volume of 182,953 shares, compared to its average volume of 327,971. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The stock has a market cap of $107.71 billion, a P/E ratio of 48.57, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a 50 day simple moving average of $448.42 and a 200 day simple moving average of $447.22.

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

Ferrari Company 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.