Baird Financial Group Inc. Has $5.39 Million Stock Holdings in Ferrari (NYSE:RACE)

Baird Financial Group Inc. lifted its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,678 shares of the company's stock after acquiring an additional 871 shares during the period. Baird Financial Group Inc.'s holdings in Ferrari were worth $5,386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Ferrari in the fourth quarter worth approximately $697,226,000. Price T Rowe Associates Inc. MD raised its position in Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after buying an additional 594,547 shares during the last quarter. Barclays PLC lifted its stake in Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after acquiring an additional 567,407 shares in the last quarter. Marshall Wace LLP boosted its holdings in Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after acquiring an additional 520,337 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after acquiring an additional 192,694 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on RACE. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday. UBS Group lifted their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating on the stock. Finally, Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $501.60.

Ferrari Trading Up 1.6 %

NYSE:RACE opened at $488.26 on Friday. The company has a market cap of $118.34 billion, a P/E ratio of 53.36, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The stock's fifty day moving average price is $442.38 and its two-hundred day moving average price is $447.02.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 EPS. As a group, analysts expect that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd were issued a $3.1265 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio is presently 5.63%.

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.

Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari (NYSE:RACE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.