Ferrari (NYSE:RACE) Shares Purchased by Groupama Asset Managment

Groupama Asset Managment raised its holdings in Ferrari (NYSE:RACE) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,494 shares of the company’s stock after purchasing an additional 3,636 shares during the quarter. Groupama Asset Managment’s holdings in Ferrari were worth $24,123,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari during the 4th quarter worth about $26,000. Armstrong Advisory Group Inc. boosted its stake 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 during the period. Kestra Investment Management LLC acquired a new stake in shares of Ferrari during the fourth quarter valued at about $45,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ferrari in the 3rd quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Ferrari in the 4th quarter worth approximately $53,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RACE. JPMorgan Chase & Co. dropped their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Trading Down 0.2 %

Shares of NYSE:RACE opened at $428.71 on Tuesday. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The company’s 50 day moving average is $455.85 and its two-hundred day moving average is $451.90. The company has a market cap of $103.91 billion, a PE ratio of 46.85, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

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