530 Shares in Ferrari (NYSE:RACE) Acquired by Chung Wu Investment Group LLC

Chung Wu Investment Group LLC acquired a new position in Ferrari (NYSE:RACE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 530 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC boosted its position in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after acquiring an additional 2,636,869 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Ferrari by 83.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after purchasing an additional 105,390 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after purchasing an additional 104,366 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in shares of Ferrari in the 3rd quarter worth $43,801,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Ferrari by 101.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,900 shares of the company’s stock worth $73,290,000 after acquiring an additional 78,400 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Down 0.3 %

RACE opened at $458.40 on Thursday. Ferrari has a one year low of $399.27 and a one year high of $509.13. The stock has a market capitalization of $111.10 billion, a PE ratio of 50.10, a P/E/G ratio of 4.43 and a beta of 0.95. The business’s 50 day moving average price is $451.53 and its 200 day moving average price is $457.11. 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 company also recently announced 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 positive change 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 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.