Ferrari (NYSE:RACE) Holdings Increased by Symmetry Investments LP

Symmetry Investments LP increased its stake in shares of Ferrari (NYSE:RACE - Free Report) by 557.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,047 shares of the company's stock after purchasing an additional 39,047 shares during the quarter. Ferrari accounts for approximately 1.0% of Symmetry Investments LP's holdings, making the stock its 20th biggest position. Symmetry Investments LP's holdings in Ferrari were worth $19,563,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the 4th quarter valued at approximately $26,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Ferrari during the fourth quarter worth about $45,000. Plato Investment Management Ltd acquired a new stake in Ferrari in the 4th quarter worth about $53,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Ferrari by 705.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after acquiring an additional 120 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RACE. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group dropped their target price 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. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Stock Performance

Shares of RACE traded down $5.51 during mid-day trading on Monday, reaching $455.30. 163,414 shares of the company's stock traded hands, compared to its average volume of 328,421. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The stock has a market capitalization of $110.35 billion, a P/E ratio of 49.68, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. The business's 50-day moving average price is $445.37 and its 200-day moving average price is $447.11. 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 Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is 5.63%.

Ferrari 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.