Symmetry Investments LP Purchases 39,047 Shares of Ferrari (NYSE:RACE)

Symmetry Investments LP grew its stake in Ferrari (NYSE:RACE - Free Report) by 557.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,047 shares of the company's stock after acquiring an additional 39,047 shares during the quarter. Ferrari accounts for 1.0% of Symmetry Investments LP's portfolio, making the stock its 20th biggest holding. Symmetry Investments LP's holdings in Ferrari were worth $19,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its position in shares of Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after acquiring an additional 16,428 shares in the last quarter. Morse Asset Management Inc increased its holdings in shares of Ferrari by 1.6% in the 3rd quarter. Morse Asset Management Inc now owns 5,239 shares of the company's stock worth $2,462,000 after purchasing an additional 83 shares in the last quarter. Sculati Wealth Management LLC raised its stake in shares of Ferrari by 2.0% in the third quarter. Sculati Wealth Management LLC now owns 6,029 shares of the company's stock worth $2,628,000 after purchasing an additional 120 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Ferrari during the third quarter valued at $417,000. Finally, Franklin Resources Inc. boosted its position in shares of Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock valued at $10,707,000 after buying an additional 8,267 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on RACE shares. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. Finally, UBS Group reduced their price objective on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Stock Performance

Ferrari stock traded up $3.88 during trading on Friday, reaching $460.70. The company had a trading volume of 250,164 shares, compared to its average volume of 328,469. The firm's 50-day simple moving average is $445.37 and its 200 day simple moving average is $447.22. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $111.66 billion, a price-to-earnings ratio of 50.35, a price-to-earnings-growth 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. Stockholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio (DPR) 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.