Ferrari (NYSE:RACE) Holdings Raised by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its holdings in shares of Ferrari (NYSE:RACE) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 594,657 shares of the company’s stock after purchasing an additional 35,525 shares during the quarter. William Blair Investment Management LLC owned approximately 0.24% of Ferrari worth $252,634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Corient Private Wealth LLC boosted its holdings in Ferrari by 1,226.4% in the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company’s stock valued at $56,153,000 after purchasing an additional 122,690 shares during the period. Greykasell Wealth Strategies Inc. acquired a new position in Ferrari during the fourth quarter valued at approximately $204,000. Aviso Financial Inc. bought a new position in Ferrari in the fourth quarter valued at approximately $1,192,000. Madison Investment Advisors LLC bought a new stake in shares of Ferrari in the fourth quarter worth $1,502,000. Finally, HBK Sorce Advisory LLC increased its holdings in Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after buying an additional 22 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RACE shares. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Performance

Shares of RACE stock opened at $449.42 on Monday. 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 has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The stock has a 50 day moving average price of $454.38 and a two-hundred day moving average price of $455.34. The company has a market capitalization of $108.93 billion, a P/E ratio of 49.12, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Ferrari Company 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.