AKO Capital LLP Reduces Holdings in Ferrari (NYSE:RACE)

AKO Capital LLP trimmed its position in shares of Ferrari (NYSE:RACE) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 619,722 shares of the company’s stock after selling 29,934 shares during the period. Ferrari makes up approximately 3.6% of AKO Capital LLP’s holdings, making the stock its 14th largest holding. AKO Capital LLP’s holdings in Ferrari were worth $264,138,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Ferrari during the fourth quarter valued at approximately $697,226,000. Artisan Partners Limited Partnership purchased a new stake in shares of Ferrari in the 4th quarter worth approximately $46,908,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Ferrari by 62.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,692 shares of the company’s stock worth $8,451,000 after buying an additional 7,563 shares during the last quarter. Vanguard Group Inc. raised its stake in Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after buying an additional 45,754 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Ferrari by 18.8% in the fourth quarter. LPL Financial LLC now owns 43,792 shares of the company’s stock worth $18,605,000 after acquiring an additional 6,930 shares in the last quarter.

Ferrari Stock Performance

Shares of Ferrari stock opened at $413.76 on Thursday. The stock’s fifty day moving average is $456.26 and its two-hundred day moving average is $452.94. 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 company has a market capitalization of $100.29 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13.

Ferrari Increases Dividend

The company also recently disclosed 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 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 is 5.63%.

Analysts Set New Price Targets

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

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.