Fmr LLC Has $431.64 Million Stock Holdings in Ferrari (NYSE:RACE)

FMR LLC cut its position in shares of Ferrari (NYSE:RACE - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,012,606 shares of the company's stock after selling 36,752 shares during the period. FMR LLC owned about 0.42% of Ferrari worth $431,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock valued at $54,847,000 after buying an additional 3,277 shares in the last quarter. Aviva PLC boosted its stake in shares of Ferrari by 2.0% in the 4th quarter. Aviva PLC now owns 108,139 shares of the company's stock valued at $46,160,000 after purchasing an additional 2,162 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Ferrari by 16.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,045 shares of the company's stock worth $869,000 after purchasing an additional 289 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Ferrari by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 146,289 shares of the company's stock valued at $62,149,000 after purchasing an additional 5,494 shares during the last quarter. Finally, Prudential PLC boosted its position in Ferrari by 39.4% in the fourth quarter. Prudential PLC now owns 9,630 shares of the company's stock valued at $4,108,000 after buying an additional 2,723 shares in the last quarter.

Ferrari Stock Up 1.4 %

RACE traded up $5.82 during trading on Tuesday, hitting $435.35. The company had a trading volume of 126,833 shares, compared to its average volume of 326,099. The company has a market capitalization of $105.52 billion, a PE ratio of 47.59, a PEG 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 has a one year low of $391.54 and a one year high of $509.13. The firm's 50-day moving average price is $452.16 and its 200 day moving average price is $447.92.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari's previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari's dividend payout ratio (DPR) is 5.63%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RACE. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. JPMorgan Chase & Co. dropped their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, UBS Group decreased their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $486.67.

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.