FIL Ltd Acquires 20,486 Shares of Ferrari (NYSE:RACE)

FIL Ltd grew its holdings in Ferrari (NYSE:RACE) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,132 shares of the company’s stock after purchasing an additional 20,486 shares during the period. FIL Ltd owned approximately 0.09% of Ferrari worth $96,595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hanson & Doremus Investment Management purchased a new position in Ferrari during the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. grew its stake in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Ferrari in the 4th quarter worth approximately $45,000. Hobbs Group Advisors LLC purchased a new position in Ferrari in the 3rd quarter worth approximately $47,000. Finally, Plato Investment Management Ltd purchased a new position in Ferrari in the 4th quarter worth approximately $53,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RACE. UBS Group cut their price target on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and a consensus target price of $490.29.

Ferrari Stock Up 8.7 %

NYSE:RACE opened at $432.65 on Thursday. The firm’s 50-day moving average price is $453.58 and its 200-day moving average price is $449.10. The company has a market capitalization of $104.86 billion, a PE ratio of 47.28, a P/E/G ratio of 4.43 and a beta of 1.03. 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 has a 1-year low of $391.54 and a 1-year high of $509.13.

Ferrari Increases Dividend

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