Price T Rowe Associates Inc. MD raised its holdings in Ferrari (NYSE:RACE - Free Report) by 49.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,796,264 shares of the company's stock after buying an additional 594,547 shares during the period. Price T Rowe Associates Inc. MD owned 0.74% of Ferrari worth $763,125,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Ferrari by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after acquiring an additional 755 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Ferrari in the 4th quarter valued at about $853,000. Russell Investments Group Ltd. lifted 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 purchasing an additional 3,277 shares during the last quarter. Sapient Capital LLC grew its holdings in Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after purchasing an additional 653 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in Ferrari during the fourth quarter worth approximately $3,371,000.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday, February 6th. They set 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 on the stock in a research report on Thursday, March 27th. Finally, StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Ferrari currently has an average rating of "Moderate Buy" and a consensus price target of $481.60.
Read Our Latest Research Report on Ferrari
Ferrari Stock Performance
Ferrari stock traded up $3.88 during midday trading on Friday, hitting $460.70. The company's stock had a trading volume of 250,164 shares, compared to its average volume of 328,915. 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 cap of $111.66 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 4.43 and a beta of 1.03. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The company has a 50-day moving average price of $445.37 and a two-hundred day moving average price of $447.16.
Ferrari Increases Dividend
The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This represents a dividend yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari's payout ratio is presently 5.63%.
Ferrari Profile
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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.
Further Reading
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