National Bank of Canada FI Acquires 3,330 Shares of Ferrari (NYSE:RACE)

National Bank of Canada FI lifted its holdings in shares of Ferrari (NYSE:RACE) by 144.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,638 shares of the company’s stock after buying an additional 3,330 shares during the quarter. National Bank of Canada FI’s holdings in Ferrari were worth $2,400,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RACE. HBK Sorce Advisory LLC boosted its position in Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after buying an additional 22 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Ferrari by 4.4% during 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 period. PDS Planning Inc boosted its holdings in 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 during the period. 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 lifted its position in Ferrari by 6.6% in the third quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after purchasing an additional 32 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $398.46 on Tuesday. The company has a 50-day simple moving average of $454.78 and a two-hundred day simple moving average of $450.39. 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 firm has a market capitalization of $96.58 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. Ferrari has a one year low of $391.54 and a one year high of $509.13.

Ferrari Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. UBS Group cut their price target on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. 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. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $490.29.

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.