Groupama Asset Managment grew its stake in shares of Ferrari (NYSE:RACE - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,494 shares of the company's stock after acquiring an additional 3,636 shares during the quarter. Groupama Asset Managment's holdings in Ferrari were worth $24,123,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Ferrari in the fourth quarter worth approximately $697,226,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Ferrari by 380.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock valued at $107,770,000 after purchasing an additional 192,694 shares during the period. Corient Private Wealth LLC lifted its holdings in Ferrari by 1,226.4% in 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. Artisan Partners Limited Partnership purchased a new stake in Ferrari during the 4th quarter valued at approximately $46,908,000. Finally, Quadrature Capital Ltd boosted its position in shares of Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company's stock worth $108,417,000 after acquiring an additional 105,390 shares during the last quarter.
Ferrari Stock Performance
RACE traded up $7.79 during midday trading on Wednesday, hitting $438.40. 598,249 shares of the company were exchanged, compared to its average volume of 308,572. The firm has a market capitalization of $106.26 billion, a price-to-earnings ratio of 47.91, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company's 50 day simple moving average is $455.66 and its 200 day simple moving average is $451.63. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13.
Ferrari Increases Dividend
The company 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 dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari's dividend payout ratio is 5.63%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on RACE shares. JPMorgan Chase & Co. reduced their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. UBS Group reduced their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $498.86.
View Our Latest Research 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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