Aquatic Capital Management LLC Takes $10.89 Million Position in Ferrari (NYSE:RACE)

Aquatic Capital Management LLC bought a new stake in Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 25,641 shares of the company’s stock, valued at approximately $10,893,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock valued at $4,307,000 after buying an additional 755 shares during the period. Fox Run Management L.L.C. acquired a new stake in Ferrari in the fourth quarter valued at approximately $853,000. Russell Investments Group Ltd. lifted its stake in Ferrari by 2.6% in the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company’s stock worth $54,847,000 after acquiring an additional 3,277 shares during the last quarter. Sapient Capital LLC grew its holdings in Ferrari by 1.0% during the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after acquiring an additional 653 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ferrari in the 4th quarter valued at approximately $3,371,000.

Ferrari Stock Performance

Shares of Ferrari stock opened at $460.70 on Friday. The firm’s fifty day simple moving average is $445.37 and its 200-day simple moving average is $447.22. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The stock has a market capitalization of $111.66 billion, a price-to-earnings ratio of 50.35, a PEG 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 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 issued a $3.1265 dividend. This represents a dividend yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is presently 5.63%.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of analyst reports. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. JPMorgan Chase & Co. cut their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. UBS Group decreased their target price on Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.