Ferrari (NYSE:RACE) Shares Purchased by Fayez Sarofim & Co

Fayez Sarofim & Co increased its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,149 shares of the company's stock after buying an additional 745 shares during the period. Fayez Sarofim & Co's holdings in Ferrari were worth $3,462,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RACE. Barclays PLC increased its stake in Ferrari by 6.1% during the 3rd quarter. Barclays PLC now owns 286,564 shares of the company's stock worth $134,719,000 after buying an additional 16,428 shares during the period. Morse Asset Management Inc increased its stake in Ferrari by 1.6% during the 3rd quarter. Morse Asset Management Inc now owns 5,239 shares of the company's stock worth $2,462,000 after buying an additional 83 shares during the period. Sculati Wealth Management LLC raised its holdings in shares of Ferrari by 2.0% in the 3rd quarter. Sculati Wealth Management LLC now owns 6,029 shares of the company's stock valued at $2,628,000 after purchasing an additional 120 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ferrari in the 3rd quarter valued at $417,000. Finally, Franklin Resources Inc. lifted its position in shares of Ferrari by 60.0% during the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock worth $10,707,000 after purchasing an additional 8,267 shares during the last quarter.

Ferrari Stock Performance

Shares of Ferrari stock traded up $3.88 on Friday, hitting $460.70. The stock had a trading volume of 250,164 shares, compared to its average volume of 328,915. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a market cap of $111.66 billion, a price-to-earnings ratio of 50.35, a P/E/G ratio of 4.43 and a beta of 1.03. The company's 50 day moving average price is $445.37 and its 200 day moving average price is $447.11.

Ferrari Increases Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. UBS Group decreased their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They set a "hold" rating for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus 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.