Martin Currie Ltd. Has $155.86 Million Stock Holdings in Ferrari (NYSE:RACE)

Martin Currie Ltd. lessened its stake in Ferrari (NYSE:RACE) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,579 shares of the company’s stock after selling 51,442 shares during the period. Ferrari makes up about 5.7% of Martin Currie Ltd.’s holdings, making the stock its 3rd biggest holding. Martin Currie Ltd.’s holdings in Ferrari were worth $155,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after acquiring an additional 45,754 shares during the last quarter. Bank of Italy grew 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 purchasing an additional 63,675 shares during the last quarter. Norges Bank bought a new stake in Ferrari during the 4th quarter valued at $697,226,000. Bank of New York Mellon Corp grew its holdings in Ferrari by 2.4% in 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 acquiring an additional 38,356 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Ferrari by 6.4% during the fourth quarter. William Blair Investment Management LLC now owns 594,657 shares of the company’s stock valued at $252,634,000 after acquiring an additional 35,525 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RACE. JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $497.86.

Ferrari Stock Performance

Shares of RACE stock opened at $429.93 on Friday. The company has a market capitalization of $104.21 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company’s 50-day moving average is $456.00 and its 200 day moving average is $452.36.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. This is a boost from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is presently 5.63%.

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.