Brown Brothers Harriman & Co. Increases Stock Holdings in Ferrari (NYSE:RACE)

Brown Brothers Harriman & Co. grew its stake in Ferrari (NYSE:RACE) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,709 shares of the company’s stock after purchasing an additional 71 shares during the period. Brown Brothers Harriman & Co.’s holdings in Ferrari were worth $3,275,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari in the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. increased its position in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Ferrari in the fourth quarter worth $45,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ferrari in the third quarter valued at $47,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Ferrari during the fourth quarter valued at $53,000.

Wall Street Analyst Weigh In

RACE has been the subject of several analyst reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. cut their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $497.86.

Ferrari Trading Up 0.7 %

RACE stock opened at $429.93 on Friday. 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 cap of $104.21 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 4.43 and a beta of 0.94. The business has a fifty day simple moving average of $456.00 and a 200-day simple moving average of $452.36. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is 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.