MetLife Investment Management LLC Raises Stock Position in Ferrari (NYSE:RACE)

MetLife Investment Management LLC boosted its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,780 shares of the company's stock after buying an additional 3,474 shares during the quarter. MetLife Investment Management LLC's holdings in Ferrari were worth $6,332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. NWK Group Inc. boosted its holdings in Ferrari by 0.9% in the fourth quarter. NWK Group Inc. now owns 10,302 shares of the company's stock worth $4,377,000 after acquiring an additional 92 shares in the last quarter. Ossiam raised its holdings in shares of Ferrari by 12.3% in the fourth quarter. Ossiam now owns 25,892 shares of the company's stock worth $11,057,000 after buying an additional 2,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ferrari by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 176,138 shares of the company's stock worth $74,832,000 after buying an additional 6,662 shares during the period. First Trust Advisors LP grew its holdings in shares of Ferrari by 36.8% during the fourth quarter. First Trust Advisors LP now owns 15,485 shares of the company's stock valued at $6,584,000 after buying an additional 4,162 shares during the last quarter. Finally, Dnca Finance increased its position in shares of Ferrari by 21.4% in the 4th quarter. Dnca Finance now owns 100,731 shares of the company's stock valued at $43,016,000 after acquiring an additional 17,766 shares during the period.

Ferrari Stock Down 1.0 %

Ferrari stock traded down $4.82 during midday trading on Monday, reaching $455.98. The company's stock had a trading volume of 112,246 shares, compared to its average volume of 328,132. The business has a 50-day simple moving average of $445.37 and a 200-day simple moving average of $447.11. The company has a market cap of $110.52 billion, a P/E ratio of 49.82, a P/E/G ratio of 4.43 and a beta of 1.03. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. 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 Increases Dividend

The company also recently disclosed 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 is Wednesday, April 23rd. Ferrari's dividend payout ratio is presently 5.63%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group lowered their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Finally, StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $481.60.

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.