Illumine Investment Management LLC Buys New Shares in Ferrari (NYSE:RACE)

Illumine Investment Management LLC purchased a new stake in Ferrari (NYSE:RACE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,544 shares of the company’s stock, valued at approximately $656,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC raised its stake in shares of Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Ferrari by 83.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after buying an additional 105,390 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after buying an additional 104,366 shares in the last quarter. Temasek Holdings Private Ltd bought a new position in shares of Ferrari during the 3rd quarter worth about $43,801,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Ferrari by 101.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,900 shares of the company’s stock valued at $73,290,000 after acquiring an additional 78,400 shares in the last quarter.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $459.90 on Friday. The business has a fifty day moving average of $449.10 and a 200-day moving average of $456.54. The firm has a market cap of $112.10 billion, a PE ratio of 50.26, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13.

Ferrari Increases Dividend

The business also recently announced 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. This represents a dividend yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s dividend payout ratio is presently 5.63%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and a consensus target price 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.