Schonfeld Strategic Advisors LLC Has $4.06 Million Stock Position in Ferrari (NYSE:RACE)

Schonfeld Strategic Advisors LLC increased its holdings in shares of Ferrari (NYSE:RACE) by 111.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,554 shares of the company’s stock after buying an additional 5,046 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Ferrari were worth $4,059,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RACE. Vanguard Group Inc. boosted its holdings in Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock worth $2,002,581,000 after buying an additional 45,754 shares during the last quarter. Bank of Italy increased its holdings in shares of Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after acquiring an additional 63,675 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after purchasing an additional 594,547 shares during the period. Norges Bank bought a new position in shares of Ferrari during the 4th quarter valued at about $697,226,000. Finally, Bank of New York Mellon Corp increased its stake in Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after purchasing an additional 38,356 shares in the last quarter.

Ferrari Stock Up 0.6 %

RACE stock opened at $462.92 on Friday. The company has a market cap of $112.20 billion, a price-to-earnings ratio of 50.59, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The business has a 50 day moving average price of $441.15 and a two-hundred day moving average price of $446.89. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday, April 29th. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, UBS Group dropped their target price on Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $481.60.

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.