3,201 Shares in Ferrari (NYSE:RACE) Acquired by Argentarii LLC

Argentarii LLC bought a new position in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,201 shares of the company’s stock, valued at approximately $1,360,000.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Bank of Italy increased its stake in Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after purchasing an additional 63,675 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 shares during the last quarter. Banco Santander S.A. boosted its holdings in shares of Ferrari by 4.2% in the fourth quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock valued at $176,190,000 after acquiring an additional 16,663 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Ferrari by 0.5% in the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock valued at $177,157,000 after acquiring an additional 1,914 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Price Performance

Shares of NYSE RACE opened at $450.14 on Friday. The stock has a fifty day moving average price of $452.18 and a 200 day moving average price of $456.88. The company has a market cap of $109.10 billion, a PE ratio of 49.20, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders 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. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari’s dividend payout ratio is presently 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.