Price T Rowe Associates Inc. MD Purchases 594,547 Shares of Ferrari (NYSE:RACE)

Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari (NYSE:RACE) by 49.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,796,264 shares of the company’s stock after buying an additional 594,547 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Ferrari were worth $763,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RACE. Vanguard Group Inc. boosted its stake in shares of Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after purchasing an additional 45,754 shares in the last quarter. Bank of Italy boosted its position in Ferrari by 2.8% during the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after acquiring an additional 63,675 shares in the last quarter. Norges Bank bought a new position in shares of Ferrari in the 4th quarter worth $697,226,000. Bank of New York Mellon Corp lifted its stake in shares of Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after purchasing an additional 38,356 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after purchasing an additional 520,337 shares during the last quarter.

Ferrari Stock Down 1.3 %

Shares of RACE stock opened at $441.51 on Thursday. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The firm has a market capitalization of $107.01 billion, a PE ratio of 48.25, a P/E/G ratio of 4.43 and a beta of 1.03. 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’s 50-day simple moving average is $447.18 and its 200-day simple moving average is $447.18.

Ferrari Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RACE shares. UBS Group reduced their target price on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $481.60.

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.