TD Waterhouse Canada Inc. Boosts Stock Holdings in Ferrari (NYSE:RACE)

TD Waterhouse Canada Inc. grew its holdings in Ferrari (NYSE:RACE - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,319 shares of the company's stock after purchasing an additional 1,116 shares during the period. TD Waterhouse Canada Inc.'s holdings in Ferrari were worth $3,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of 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 during the 4th quarter valued at $853,000. Russell Investments Group Ltd. lifted its holdings in Ferrari by 2.6% during the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after purchasing an additional 3,277 shares in the last quarter. Sapient Capital LLC boosted its stake in Ferrari by 1.0% in the 4th 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. purchased a new position in Ferrari during the 4th quarter valued at about $3,371,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RACE shares. UBS Group lowered their price target on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. 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 report on Thursday, March 27th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Trading Up 2.9 %

NYSE RACE opened at $447.27 on Wednesday. The stock's 50-day simple moving average is $448.42 and its two-hundred day simple moving average is $447.22. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. 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 company has a market capitalization of $108.41 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given 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.

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