Brown Brothers Harriman & Co. Raises Stock Holdings in Ferrari (NYSE:RACE)

Brown Brothers Harriman & Co. raised its stake in Ferrari (NYSE:RACE) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,709 shares of the company’s stock after buying an additional 71 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Ferrari were worth $3,275,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RACE. Gardner Lewis Asset Management L P lifted its holdings in shares of Ferrari by 12.2% in the 4th quarter. Gardner Lewis Asset Management L P now owns 3,895 shares of the company’s stock worth $1,655,000 after acquiring an additional 425 shares during the last quarter. Level Four Advisory Services LLC raised its position in Ferrari by 9.0% in the fourth quarter. Level Four Advisory Services LLC now owns 2,061 shares of the company’s stock valued at $876,000 after purchasing an additional 170 shares during the period. Norges Bank acquired a new position in Ferrari during the fourth quarter worth $697,226,000. Artisan Partners Limited Partnership purchased a new position in shares of Ferrari during the fourth quarter worth $46,908,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Ferrari by 62.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,692 shares of the company’s stock worth $8,451,000 after buying an additional 7,563 shares during the period.

Analyst Ratings Changes

Several research firms recently issued reports on RACE. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $497.86.

Ferrari Stock Up 0.7 %

RACE opened at $429.93 on Friday. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market capitalization of $104.21 billion, a P/E ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The business’s 50-day simple moving average is $456.00 and its 200-day simple moving average is $452.36.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is currently 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.