Ferrari (NYSE:RACE) is Martin Currie Ltd.'s 3rd Largest Position

Martin Currie Ltd. reduced its position in shares of Ferrari (NYSE:RACE - Free Report) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 365,579 shares of the company's stock after selling 51,442 shares during the period. Ferrari accounts for about 5.7% of Martin Currie Ltd.'s holdings, making the stock its 3rd biggest position. Martin Currie Ltd. owned approximately 0.15% of Ferrari worth $155,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new position in Ferrari in the fourth quarter worth $13,456,000. Allianz SE purchased a new position in shares of Ferrari in the 4th quarter worth about $8,611,000. Brown Brothers Harriman & Co. grew its position in Ferrari by 0.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 7,709 shares of the company's stock valued at $3,275,000 after buying an additional 71 shares during the period. Gardner Lewis Asset Management L P grew its position in Ferrari by 12.2% during the fourth quarter. Gardner Lewis Asset Management L P now owns 3,895 shares of the company's stock valued at $1,655,000 after buying an additional 425 shares during the period. Finally, Level Four Advisory Services LLC raised its position in Ferrari by 9.0% in the fourth quarter. Level Four Advisory Services LLC now owns 2,061 shares of the company's stock worth $876,000 after acquiring an additional 170 shares during the period.

Ferrari Price Performance

RACE stock traded up $7.77 during midday trading on Wednesday, reaching $438.38. The company had a trading volume of 364,997 shares, compared to its average volume of 307,713. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The company has a market capitalization of $106.25 billion, a P/E ratio of 47.91, a P/E/G ratio of 4.43 and a beta of 0.94. The firm has a 50-day moving average price of $455.66 and a 200-day moving average price of $451.63.

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Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This represents a 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 is currently 5.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating for the company. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. UBS Group dropped their price target on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $498.86.

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.