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

National Bank of Canada FI increased its stake in Ferrari (NYSE:RACE) by 144.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,638 shares of the company’s stock after purchasing 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.

Other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of Ferrari by 13.8% during the 4th quarter. Franklin Resources Inc. now owns 25,093 shares of the company’s stock worth $10,689,000 after acquiring an additional 3,038 shares during the period. Axiom Investors LLC DE increased its stake in shares of Ferrari by 48.4% in the fourth quarter. Axiom Investors LLC DE now owns 29,959 shares of the company’s stock worth $12,728,000 after purchasing an additional 9,772 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Ferrari by 12.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,805 shares of the company’s stock valued at $3,741,000 after purchasing an additional 948 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Ferrari by 3.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 163,787 shares of the company’s stock valued at $70,965,000 after buying an additional 5,761 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Ferrari in the 4th quarter worth approximately $13,456,000.

Ferrari Stock Performance

Ferrari stock opened at $398.46 on Tuesday. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market cap of $96.58 billion, a P/E ratio of 43.55, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. The firm’s fifty day moving average price is $454.78 and its 200-day moving average price is $450.39.

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 paid a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is 5.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. UBS Group decreased their price target on Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.