Enhancing Capital LLC Purchases Shares of 1,765 Ferrari (NYSE:RACE)

Enhancing Capital LLC acquired a new position in shares of Ferrari (NYSE:RACE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,765 shares of the company’s stock, valued at approximately $750,000.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC increased its stake in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after acquiring an additional 2,636,869 shares during the period. Bank of Italy grew its holdings in shares of Ferrari by 2.8% during the 4th 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 in the last quarter. Bank of New York Mellon Corp increased its position in shares of Ferrari by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 shares during the period. William Blair Investment Management LLC raised its stake in shares of Ferrari by 6.4% in the fourth quarter. William Blair Investment Management LLC now owns 594,657 shares of the company’s stock valued at $252,634,000 after purchasing an additional 35,525 shares in the last quarter. Finally, Banco Santander S.A. boosted its stake in Ferrari by 4.2% during the fourth quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock worth $176,190,000 after buying an additional 16,663 shares in the last quarter.

Ferrari Trading Up 1.2 %

Shares of NYSE RACE opened at $454.62 on Tuesday. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $454.94 and a two-hundred day moving average of $455.09. The company has a market cap of $110.19 billion, a PE ratio of 49.68, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RACE. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.