Axiom Investors LLC DE Has $12.73 Million Holdings in Ferrari (NYSE:RACE)

Axiom Investors LLC DE raised its stake in Ferrari (NYSE:RACE) by 48.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,959 shares of the company’s stock after acquiring an additional 9,772 shares during the quarter. Axiom Investors LLC DE’s holdings in Ferrari were worth $12,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HBK Sorce Advisory LLC lifted its stake in Ferrari by 3.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after purchasing an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after acquiring an additional 25 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Ferrari by 4.8% during the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after acquiring an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after acquiring an additional 30 shares during the last quarter. Finally, EWA LLC increased its holdings in Ferrari by 6.6% in the 3rd quarter. EWA LLC now owns 518 shares of the company’s stock worth $228,000 after purchasing an additional 32 shares in the last quarter.

Wall Street Analyst Weigh In

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

Ferrari Trading Up 0.7 %

NYSE RACE opened at $429.93 on Monday. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The business has a 50 day simple moving average of $456.00 and a 200 day simple moving average of $452.20. The stock has a market capitalization of $104.21 billion, a P/E ratio of 46.99, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is currently 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.