Ferrari N.V. $RACE Position Increased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its stake in shares of Ferrari N.V. (NYSE:RACE) by 16.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 345,846 shares of the company’s stock after acquiring an additional 48,002 shares during the period. DekaBank Deutsche Girozentrale owned about 0.14% of Ferrari worth $132,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RACE. Groupama Asset Managment boosted its position in shares of Ferrari by 5.7% in the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after purchasing an additional 916,821 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.6% during the third quarter. Vanguard Group Inc. now owns 5,154,944 shares of the company’s stock worth $2,498,710,000 after purchasing an additional 81,017 shares during the period. Amundi lifted its position in Ferrari by 8.0% in the 3rd quarter. Amundi now owns 2,972,368 shares of the company’s stock worth $1,461,008,000 after buying an additional 219,909 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ferrari by 63.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock valued at $1,295,907,000 after acquiring an additional 1,039,234 shares in the last quarter. Finally, Bank of Italy increased its stake in shares of Ferrari by 2.3% in the third quarter. Bank of Italy now owns 2,462,771 shares of the company’s stock worth $1,190,158,000 after acquiring an additional 55,500 shares during the last quarter.

Ferrari Stock Down 0.4%

RACE opened at $356.96 on Thursday. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The firm has a market cap of $83.51 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 3.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.38 and a current ratio of 5.70. The firm’s 50-day simple moving average is $350.81 and its 200-day simple moving average is $370.23.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be issued a dividend of $3.615 per share. This is a boost from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 119.0%. The ex-dividend date is Tuesday, April 21st. Ferrari’s dividend payout ratio is presently 5.09%.

Wall Street Analyst Weigh In

A number of research analysts have commented on RACE shares. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a report on Thursday, February 12th. Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a research note on Wednesday, February 11th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.