Rockefeller Capital Management L.P. Purchases 1,050 Shares of Ferrari (NYSE:RACE)

Rockefeller Capital Management L.P. boosted its holdings in Ferrari (NYSE:RACE - Free Report) by 9.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,691 shares of the company's stock after buying an additional 1,050 shares during the period. Rockefeller Capital Management L.P.'s holdings in Ferrari were worth $4,968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RACE. Norges Bank acquired a new stake in Ferrari in the fourth quarter worth $697,226,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Ferrari by 380.7% in 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 buying an additional 192,694 shares in the last quarter. Corient Private Wealth LLC raised its stake in Ferrari by 1,226.4% during the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company's stock worth $56,153,000 after buying an additional 122,690 shares during the period. Artisan Partners Limited Partnership bought a new position in Ferrari during the fourth quarter worth about $46,908,000. Finally, Raymond James Financial Inc. acquired a new position in Ferrari in the fourth quarter valued at about $27,657,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RACE. 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 report on Thursday, March 27th. UBS Group dropped their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, Barclays upgraded 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 seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Stock Up 1.6 %

Shares of NYSE:RACE traded up $7.01 during midday trading on Friday, hitting $439.76. The stock had a trading volume of 239,651 shares, compared to its average volume of 328,119. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The business's 50-day simple moving average is $450.23 and its 200-day simple moving average is $447.34. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The company has a market cap of $106.59 billion, a P/E ratio of 48.06, a PEG ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is an increase from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is 5.63%.

Ferrari Company 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.