J. Safra Sarasin Holding AG Reduces Stock Holdings in Ferrari (NYSE:RACE)

J. Safra Sarasin Holding AG cut its stake in Ferrari (NYSE:RACE - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,963 shares of the company's stock after selling 2,577 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Ferrari were worth $7,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Ferrari in the fourth quarter worth $697,226,000. Barclays PLC boosted its holdings in shares of Ferrari by 198.0% during the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after purchasing an additional 567,407 shares during the period. Marshall Wace LLP lifted its holdings in Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after buying an additional 520,337 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock valued at $107,770,000 after acquiring an additional 192,694 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Ferrari by 1,226.4% during the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company's stock valued at $56,153,000 after purchasing an additional 122,690 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on RACE. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group lowered their price objective on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Price Performance

Shares of Ferrari stock traded up $3.88 during trading on Friday, reaching $460.70. 250,164 shares of the stock traded hands, compared to its average volume of 328,469. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market capitalization of $111.66 billion, a price-to-earnings ratio of 50.35, a P/E/G ratio of 4.43 and a beta of 1.03. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The business has a fifty day simple moving average of $445.37 and a two-hundred day simple moving average of $447.22.

Ferrari Increases Dividend

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