Ferrari (NYSE:RACE) Position Lifted by Arosa Capital Management LP

Arosa Capital Management LP lifted its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the company's stock after purchasing an additional 2,400 shares during the period. Ferrari comprises approximately 1.5% of Arosa Capital Management LP's holdings, making the stock its 16th biggest holding. Arosa Capital Management LP's holdings in Ferrari were worth $3,824,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Ferrari in the fourth quarter valued at $45,000. Plato Investment Management Ltd acquired a new position in Ferrari in the fourth quarter valued at $53,000. Finally, Newbridge Financial Services Group Inc. lifted its position in Ferrari by 705.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after buying an additional 120 shares during the period.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on 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 assumed coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group dropped their target price on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Stock Up 0.6 %

Shares of RACE traded up $2.98 during mid-day trading on Friday, reaching $463.10. 280,557 shares of the stock traded hands, compared to its average volume of 330,370. The firm has a market cap of $112.24 billion, a price-to-earnings ratio of 50.60, a P/E/G ratio of 4.43 and a beta of 1.13. The stock has a fifty day simple moving average of $441.99 and a 200 day simple moving average of $447.11. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13.

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 given a $3.1265 dividend. This is a boost from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. Ferrari's dividend payout ratio is presently 5.63%.

About Ferrari

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.