Voya Investment Management LLC grew its position in Ferrari (NYSE:RACE - Free Report) by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,305 shares of the company's stock after buying an additional 4,224 shares during the quarter. Voya Investment Management LLC's holdings in Ferrari were worth $10,798,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock valued at $4,307,000 after acquiring an additional 755 shares during the period. Fox Run Management L.L.C. purchased a new position in Ferrari in the fourth quarter valued at about $853,000. Russell Investments Group Ltd. grew its stake in Ferrari by 2.6% in the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock valued at $54,847,000 after purchasing an additional 3,277 shares during the last quarter. Sapient Capital LLC raised its holdings in Ferrari by 1.0% in the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after purchasing an additional 653 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ferrari during the fourth quarter valued at about $3,371,000.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on RACE shares. StockNews.com downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Tuesday. UBS Group reduced their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ferrari currently has an average rating of "Moderate Buy" and a consensus price target of $481.60.
Read Our Latest Analysis on RACE
Ferrari Stock Performance
Shares of RACE stock traded down $1.21 during trading hours on Thursday, hitting $460.57. The company's stock had a trading volume of 247,427 shares, compared to its average volume of 330,510. 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 company has a 50 day moving average of $442.75 and a 200 day moving average of $447.24. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. The stock has a market cap of $111.63 billion, a PE ratio of 50.34, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03.
Ferrari Increases Dividend
The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a positive change from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio (DPR) is presently 5.63%.
Ferrari Profile
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Free Report)
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.
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