National Bank of Canada FI Raises Position in Ferrari (NYSE:RACE)

National Bank of Canada FI raised its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 144.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,638 shares of the company's stock after purchasing an additional 3,330 shares during the period. National Bank of Canada FI's holdings in Ferrari were worth $2,400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Ferrari during the fourth quarter valued at approximately $697,226,000. Bank Julius Baer & Co. Ltd Zurich lifted 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 during the period. Corient Private Wealth LLC increased its position 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 during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Ferrari in the 4th quarter worth approximately $46,908,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Ferrari in the fourth quarter worth approximately $27,657,000.

Ferrari Price Performance

Shares of Ferrari stock traded up $4.76 during trading on Friday, reaching $428.57. 613,097 shares of the stock traded hands, compared to its average volume of 326,117. The company has a market capitalization of $103.88 billion, a price-to-earnings ratio of 46.84, a P/E/G ratio of 4.43 and a beta of 1.03. The business has a fifty day simple moving average of $452.86 and a two-hundred day simple moving average of $448.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13.

Ferrari Increases Dividend

The firm also recently announced 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 positive change 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%.

Analyst Upgrades and Downgrades

RACE has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target 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. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. Finally, Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $486.67.

About Ferrari

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.