Axiom Investors LLC DE Acquires 9,772 Shares of Ferrari (NYSE:RACE)

Axiom Investors LLC DE raised its holdings in Ferrari (NYSE:RACE) by 48.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,959 shares of the company’s stock after purchasing an additional 9,772 shares during the quarter. Axiom Investors LLC DE’s holdings in Ferrari were worth $12,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. HBK Sorce Advisory LLC raised its holdings in shares of Ferrari by 3.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after buying an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Ferrari by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc raised its position in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock worth $250,000 after purchasing an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after buying an additional 30 shares during the last quarter. Finally, EWA LLC raised its position in shares of Ferrari by 6.6% during the third quarter. EWA LLC now owns 518 shares of the company’s stock worth $228,000 after acquiring an additional 32 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on RACE. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. StockNews.com upgraded shares of 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 research report on Friday. Finally, JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Trading Up 0.7 %

RACE stock opened at $429.93 on Monday. Ferrari has a one year low of $399.27 and a one year high of $509.13. The stock has a market cap of $104.21 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a fifty day moving average price of $456.00 and a two-hundred day moving average price of $452.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

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