Jupiter Asset Management Ltd. Raises Holdings in Ferrari (NYSE:RACE)

Jupiter Asset Management Ltd. lifted its holdings in shares of Ferrari (NYSE:RACE) by 35.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,827 shares of the company’s stock after buying an additional 28,827 shares during the period. Jupiter Asset Management Ltd.’s holdings in Ferrari were worth $46,901,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RACE. Hanson & Doremus Investment Management purchased a new position in Ferrari in the 4th quarter valued at approximately $26,000. Planning Capital Management Corp purchased a new position in Ferrari in the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new position in Ferrari in the 3rd quarter valued at approximately $33,000. Armstrong Advisory Group Inc. increased its stake in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Ferrari in the 4th quarter valued at approximately $45,000.

Analysts Set New Price Targets

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

Ferrari Price Performance

RACE stock opened at $442.66 on Wednesday. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. The stock’s fifty day simple moving average is $452.75 and its 200-day simple moving average is $456.16. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $107.29 billion, a price-to-earnings ratio of 48.38, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

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 issued a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

About Ferrari

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.