Itau Unibanco Holding S.A. Has $4.95 Million Holdings in Ferrari (NYSE:RACE)

Itau Unibanco Holding S.A. grew its holdings in Ferrari (NYSE:RACE - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,600 shares of the company's stock after buying an additional 3,000 shares during the quarter. Itau Unibanco Holding S.A.'s holdings in Ferrari were worth $4,951,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Barclays PLC increased its stake in shares of Ferrari by 6.1% in the 3rd quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after buying an additional 16,428 shares during the period. Morse Asset Management Inc lifted its position in Ferrari by 1.6% during the 3rd quarter. Morse Asset Management Inc now owns 5,239 shares of the company's stock valued at $2,462,000 after purchasing an additional 83 shares during the period. Sculati Wealth Management LLC boosted its stake 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ferrari during the 3rd quarter worth approximately $417,000. Finally, Franklin Resources Inc. raised its stake in shares of Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock worth $10,707,000 after buying an additional 8,267 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on RACE. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. decreased 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. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. 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 report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Stock Up 0.6 %

RACE stock traded up $2.80 during mid-day trading on Friday, hitting $462.92. 408,398 shares of the company were exchanged, compared to its average volume of 331,457. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The firm's 50 day simple moving average is $441.15 and its 200 day simple moving average is $446.89. The firm has a market cap of $112.20 billion, a P/E ratio of 50.59, a P/E/G ratio of 4.43 and a beta of 1.13.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors 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 of this dividend is Wednesday, April 23rd. Ferrari's payout ratio is currently 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.