Madison Investment Advisors LLC Makes New Investment in Ferrari (NYSE:RACE)

Madison Investment Advisors LLC bought a new position in Ferrari (NYSE:RACE) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,536 shares of the company’s stock, valued at approximately $1,502,000.

Several other large investors have also added to or reduced their stakes in RACE. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock worth $107,770,000 after purchasing an additional 192,694 shares during the period. Quadrature Capital Ltd boosted its stake in Ferrari by 83.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after purchasing an additional 105,390 shares during the period. BNP Paribas Financial Markets boosted its stake in Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after purchasing an additional 104,366 shares during the period. Temasek Holdings Private Ltd bought a new position in Ferrari in the 3rd quarter worth about $43,801,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Ferrari by 101.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,900 shares of the company’s stock worth $73,290,000 after purchasing an additional 78,400 shares during the period.

Ferrari Stock Performance

NYSE:RACE opened at $436.10 on Friday. The business has a 50 day moving average of $456.03 and a 200 day moving average of $454.22. The company has a market capitalization of $105.70 billion, a price-to-earnings 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 company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is presently 5.63%.

Analysts Set New Price Targets

Several brokerages have recently commented on RACE. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

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.