FIL Ltd increased its holdings in Ferrari (NYSE:RACE - Free Report) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 226,132 shares of the company's stock after buying an additional 20,486 shares during the quarter. FIL Ltd owned about 0.09% of Ferrari worth $96,595,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock valued at $2,002,581,000 after purchasing an additional 45,754 shares during the last quarter. Bank of Italy raised its stake in Ferrari by 2.8% during the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after buying an additional 63,675 shares during the last quarter. Norges Bank purchased a new stake in Ferrari during the 4th quarter valued at $697,226,000. Bank of New York Mellon Corp lifted its holdings in shares of Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after buying an additional 38,356 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of Ferrari by 6.4% in the 4th quarter. William Blair Investment Management LLC now owns 594,657 shares of the company's stock worth $252,634,000 after buying an additional 35,525 shares during the last quarter.
Ferrari Price Performance
NYSE:RACE traded up $3.23 on Monday, reaching $431.81. 321,007 shares of the company's stock traded hands, compared to its average volume of 326,473. The stock has a 50-day simple moving average of $452.86 and a 200-day simple moving average of $448.21. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The firm has a market cap of $104.66 billion, a PE ratio of 47.19, a P/E/G 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 firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari's payout ratio is currently 5.63%.
Wall Street Analysts Forecast Growth
RACE has been the topic of a number of recent research reports. Barclays raised 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 report on Wednesday, March 12th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Ferrari presently has a consensus rating of "Moderate Buy" and an average target price of $486.67.
View Our Latest Report on Ferrari
Ferrari Profile
(
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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