LGT Group Foundation Buys 55 Shares of Ferrari (NYSE:RACE)

LGT Group Foundation grew its stake in shares of Ferrari (NYSE:RACE) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,109 shares of the company’s stock after buying an additional 55 shares during the quarter. LGT Group Foundation’s holdings in Ferrari were worth $2,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RACE. Jennison Associates LLC grew its stake in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the last quarter. Quadrature Capital Ltd grew its stake in shares of Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Ferrari by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after buying an additional 104,366 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in shares of Ferrari during the third quarter worth $43,801,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Ferrari by 101.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,900 shares of the company’s stock worth $73,290,000 after buying an additional 78,400 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $463.86 on Tuesday. 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 stock has a market capitalization of $112.43 billion, a P/E ratio of 50.70, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The firm’s fifty day simple moving average is $450.52 and its two-hundred day simple moving average is $457.10. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders 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 represents a yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is 5.63%.

Analyst Ratings Changes

Several brokerages recently weighed in on RACE. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $507.14.

About Ferrari

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.