Ferrari (NYSE:RACE) Shares Purchased by Infusive Asset Management Inc.

Infusive Asset Management Inc. lifted its position in Ferrari (NYSE:RACE - Free Report) by 24.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,411 shares of the company's stock after purchasing an additional 3,253 shares during the quarter. Ferrari comprises about 3.1% of Infusive Asset Management Inc.'s holdings, making the stock its 15th biggest holding. Infusive Asset Management Inc.'s holdings in Ferrari were worth $6,972,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RACE. Hanson & Doremus Investment Management acquired a new position in Ferrari in the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after acquiring an additional 50 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Ferrari during the 4th quarter worth approximately $45,000. Plato Investment Management Ltd acquired a new stake in Ferrari in the 4th quarter valued at approximately $53,000. Finally, Newbridge Financial Services Group Inc. raised its position in Ferrari by 705.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after purchasing an additional 120 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RACE. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, UBS Group reduced 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $481.60.

Ferrari Price Performance

NYSE RACE traded up $0.61 during trading hours on Wednesday, reaching $444.38. The company's stock had a trading volume of 182,953 shares, compared to its average volume of 327,973. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company's 50-day moving average is $448.42 and its two-hundred day moving average is $447.22. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The stock has a market cap of $107.71 billion, a PE ratio of 48.57, a PEG ratio of 4.43 and a beta of 1.03.

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 is an increase from Ferrari's previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. Ferrari's payout ratio is currently 5.63%.

Ferrari 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.