Wells Fargo & Company MN lifted its position in Ferrari (NYSE:RACE - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,289 shares of the company's stock after acquiring an additional 5,494 shares during the period. Wells Fargo & Company MN owned about 0.06% of Ferrari worth $62,149,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Prudential PLC raised its position in Ferrari by 39.4% during the fourth quarter. Prudential PLC now owns 9,630 shares of the company's stock valued at $4,108,000 after acquiring an additional 2,723 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Ferrari by 65.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 7,361 shares of the company's stock valued at $3,127,000 after acquiring an additional 2,902 shares in the last quarter. Groupama Asset Managment lifted its holdings in Ferrari by 6.6% in the 4th quarter. Groupama Asset Managment now owns 58,494 shares of the company's stock worth $24,123,000 after purchasing an additional 3,636 shares during the last quarter. Headlands Technologies LLC bought a new stake in Ferrari during the fourth quarter worth approximately $356,000. Finally, National Bank of Canada FI raised its position in shares of Ferrari by 144.3% in the fourth quarter. National Bank of Canada FI now owns 5,638 shares of the company's stock valued at $2,400,000 after purchasing an additional 3,330 shares during the period.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on RACE shares. UBS Group dropped their target price on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $486.67.
Get Our Latest Research Report on RACE
Ferrari Stock Performance
Shares of NYSE RACE traded up $4.37 during midday trading on Monday, hitting $432.95. 84,061 shares of the company's stock were exchanged, compared to its average volume of 325,488. The company's 50 day moving average price is $452.86 and its 200 day moving average price is $448.21. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The firm has a market capitalization of $104.94 billion, a PE ratio of 47.32, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. 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 disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari's dividend payout ratio is currently 5.63%.
About Ferrari
(
Free Report)
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.
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