Whittier Trust Co. of Nevada Inc. Grows Stock Holdings in Ferrari (NYSE:RACE)

Whittier Trust Co. of Nevada Inc. raised its position in shares of Ferrari (NYSE:RACE) by 41.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,787 shares of the company’s stock after purchasing an additional 527 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Ferrari were worth $759,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bank of Italy raised its position in Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after purchasing an additional 63,675 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 in the last quarter. William Blair Investment Management LLC raised its position in 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 purchasing an additional 35,525 shares in the last quarter. Banco Santander S.A. raised its position in Ferrari by 4.2% during the fourth quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock valued at $176,190,000 after purchasing an additional 16,663 shares in the last quarter. Finally, Barclays PLC raised its position in Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company’s stock valued at $134,719,000 after purchasing an additional 16,428 shares in the last quarter.

Ferrari Stock Down 1.8 %

NYSE RACE opened at $436.10 on Friday. 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 stock has a market capitalization of $105.70 billion, a PE ratio of 47.66, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The business’s 50-day moving average is $456.03 and its 200 day moving average is $454.00.

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 paid a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RACE shares. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

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.