Credit Industriel ET Commercial Invests $2.15 Million in Ferrari (NYSE:RACE)

Credit Industriel ET Commercial acquired a new position in shares of Ferrari (NYSE:RACE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,201 shares of the company's stock, valued at approximately $2,145,000.

Other hedge funds have also modified their holdings of the company. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari in the 4th quarter valued at $26,000. Armstrong Advisory Group Inc. increased its position in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after acquiring an additional 50 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Ferrari during the fourth quarter valued at approximately $45,000. Plato Investment Management Ltd acquired a new position in Ferrari in the 4th quarter worth approximately $53,000. Finally, Newbridge Financial Services Group Inc. grew its position in Ferrari by 705.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after purchasing an additional 120 shares in the last quarter.

Analysts Set New Price Targets

RACE has been the topic of several recent analyst reports. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They set a "hold" rating for the company. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, UBS Group decreased their target price on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $481.60.

Ferrari Stock Up 0.8 %

Shares of NYSE:RACE traded up $3.88 on Friday, reaching $460.70. The company had a trading volume of 250,164 shares, compared to its average volume of 328,915. The stock has a market capitalization of $111.66 billion, a P/E ratio of 50.35, a P/E/G ratio of 4.43 and a beta of 1.03. The stock has a 50-day moving average price of $445.37 and a 200 day moving average price of $447.16. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued a $3.1265 dividend. This is a positive change from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. Ferrari's payout ratio is 5.63%.

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.