Capital International Ltd. CA Acquires 189 Shares of Ferrari (NYSE:RACE)

Capital International Ltd. CA boosted its holdings in Ferrari (NYSE:RACE) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,775 shares of the company’s stock after acquiring an additional 189 shares during the quarter. Capital International Ltd. CA’s holdings in Ferrari were worth $3,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RACE. Vanguard Group Inc. increased its stake in Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after acquiring an additional 45,754 shares during the last quarter. Bank of Italy boosted its holdings in shares of Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after purchasing an additional 63,675 shares in the last quarter. Norges Bank bought a new position in shares of Ferrari during the 4th quarter valued at about $697,226,000. Bank of New York Mellon Corp raised its holdings in shares of Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after buying an additional 38,356 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after buying an additional 520,337 shares during the last quarter.

Ferrari Trading Up 1.6 %

NYSE RACE opened at $439.76 on Friday. The stock has a market cap of $106.59 billion, a P/E ratio of 48.06, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The stock has a 50 day simple moving average of $450.23 and a two-hundred day simple moving average of $447.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued 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 5.63%.

Analyst Upgrades and Downgrades

RACE has been the topic of several research reports. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. cut 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, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the 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 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.