Credit Industriel ET Commercial Takes $2.15 Million Position in Ferrari (NYSE:RACE)

Credit Industriel ET Commercial purchased a new position in Ferrari (NYSE:RACE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,201 shares of the company's stock, valued at approximately $2,145,000.

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

Ferrari Stock Performance

RACE traded up $3.76 on Tuesday, reaching $461.96. The stock had a trading volume of 125,217 shares, compared to its average volume of 328,132. The company has a current ratio of 4.57, a quick ratio of 3.55 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. The business's 50-day moving average price is $444.52 and its two-hundred day moving average price is $447.04. The company has a market cap of $111.97 billion, a P/E ratio of 50.51, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03.

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 paid a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari's dividend payout ratio (DPR) is currently 5.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RACE. 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. lowered their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Finally, StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.