Capital International Ltd. CA Purchases 189 Shares of Ferrari (NYSE:RACE)

Capital International Ltd. CA increased its position in Ferrari (NYSE:RACE) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,775 shares of the company’s stock after purchasing an additional 189 shares during the period. Capital International Ltd. CA’s holdings in Ferrari were worth $3,748,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Hanson & Doremus Investment Management purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. raised its holdings in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Ferrari during the fourth quarter valued at about $45,000. Plato Investment Management Ltd bought a new stake in Ferrari in the 4th quarter worth about $53,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock valued at $58,000 after buying an additional 120 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RACE shares. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. StockNews.com upgraded 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 issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $481.60.

Ferrari Price Performance

Ferrari stock opened at $439.76 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. Ferrari has a one year low of $391.54 and a one year high of $509.13. The firm has a market capitalization of $106.59 billion, a P/E ratio of 48.06, a PEG ratio of 4.43 and a beta of 1.03. The business has a fifty day moving average price of $450.23 and a 200-day moving average price of $447.40.

Ferrari Increases Dividend

The business also recently declared 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. 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 is currently 5.63%.

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.