Ferrari (NYSE:RACE) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its position in shares of Ferrari (NYSE:RACE - Free Report) by 49.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,796,264 shares of the company's stock after purchasing an additional 594,547 shares during the period. Price T Rowe Associates Inc. MD owned about 0.74% of Ferrari worth $763,125,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RACE. Vanguard Group Inc. lifted its position in shares of Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after purchasing an additional 45,754 shares during the period. Bank of Italy lifted its position in shares of Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company's stock worth $1,002,392,000 after purchasing an additional 63,675 shares during the period. Norges Bank purchased a new stake in shares of Ferrari in the 4th quarter worth approximately $697,226,000. Bank of New York Mellon Corp lifted its position in shares of Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after purchasing an additional 38,356 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after purchasing an additional 520,337 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. Finally, Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Ferrari has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Price Performance

NYSE RACE traded up $2.60 during trading hours on Tuesday, reaching $460.80. The company's stock had a trading volume of 99,945 shares, compared to its average volume of 328,030. The firm has a market capitalization of $111.69 billion, a price-to-earnings ratio of 50.36, a P/E/G ratio of 4.43 and a beta of 1.03. 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 company's 50-day moving average is $444.52 and its two-hundred day moving average is $447.04.

Ferrari Increases Dividend

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