Fayez Sarofim & Co Raises Stock Position in Ferrari (NYSE:RACE)

Fayez Sarofim & Co grew its holdings in Ferrari (NYSE:RACE - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,149 shares of the company's stock after purchasing an additional 745 shares during the period. Fayez Sarofim & Co's holdings in Ferrari were worth $3,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RACE. OneDigital Investment Advisors LLC boosted its position in Ferrari by 4.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 3,209 shares of the company's stock valued at $1,363,000 after buying an additional 131 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Ferrari by 13.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,319 shares of the company's stock valued at $3,955,000 after purchasing an additional 1,116 shares during the period. MetLife Investment Management LLC grew its stake in Ferrari by 30.7% during the 4th quarter. MetLife Investment Management LLC now owns 14,780 shares of the company's stock worth $6,332,000 after purchasing an additional 3,474 shares in the last quarter. NWK Group Inc. increased its holdings in Ferrari by 0.9% during the 4th quarter. NWK Group Inc. now owns 10,302 shares of the company's stock worth $4,377,000 after purchasing an additional 92 shares during the period. Finally, Ossiam raised its position in Ferrari by 12.3% in the 4th quarter. Ossiam now owns 25,892 shares of the company's stock valued at $11,057,000 after purchasing an additional 2,832 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have commented on RACE. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. UBS Group lowered their price objective on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Stock Performance

Shares of NYSE RACE traded up $3.88 during midday trading on Friday, reaching $460.70. 250,164 shares of the company were exchanged, compared to its average volume of 328,469. The stock has a market cap of $111.66 billion, a P/E ratio of 50.35, a PEG ratio of 4.43 and a beta of 1.03. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The stock has a fifty day simple moving average of $446.24 and a 200 day simple moving average of $447.22. 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 company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio (DPR) is presently 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.