Ossiam Acquires 2,832 Shares of Ferrari (NYSE:RACE)

Ossiam raised its holdings in Ferrari (NYSE:RACE - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,892 shares of the company's stock after buying an additional 2,832 shares during the quarter. Ossiam's holdings in Ferrari were worth $11,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RACE. Norges Bank bought a new position in Ferrari in the fourth quarter worth approximately $697,226,000. Barclays PLC lifted its holdings in shares of Ferrari by 198.0% in the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after purchasing an additional 567,407 shares in the last quarter. Marshall Wace LLP grew its position in Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after purchasing an additional 520,337 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Ferrari by 380.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock valued at $107,770,000 after buying an additional 192,694 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Ferrari by 1,226.4% during the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company's stock worth $56,153,000 after purchasing an additional 122,690 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RACE. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and an average price target of $481.60.

Ferrari Stock Performance

NYSE RACE traded down $5.65 on Wednesday, hitting $441.51. 340,590 shares of the stock traded hands, compared to its average volume of 328,576. 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 business's fifty day moving average is $448.42 and its two-hundred day moving average is $447.22. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The firm has a market capitalization of $107.01 billion, a price-to-earnings ratio of 48.25, a PEG ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The company 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 is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari's dividend payout ratio is presently 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.