Swiss National Bank Cuts Position in Ferrari (NYSE:RACE)

Swiss National Bank lessened its stake in Ferrari (NYSE:RACE) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,257 shares of the company’s stock after selling 7,600 shares during the quarter. Swiss National Bank owned 0.15% of Ferrari worth $158,458,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC increased its holdings in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after acquiring an additional 2,636,869 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Ferrari by 380.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock valued at $107,770,000 after acquiring an additional 192,694 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Ferrari by 83.7% during the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after acquiring an additional 105,390 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Ferrari by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after acquiring an additional 104,366 shares in the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in Ferrari during the 3rd quarter valued at about $43,801,000.

Ferrari Price Performance

RACE opened at $440.34 on Friday. The company’s 50 day simple moving average is $453.74 and its 200 day simple moving average is $456.01. 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 1 year low of $399.27 and a 1 year high of $509.13. The stock has a market capitalization of $106.73 billion, a PE ratio of 48.12, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors 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 is a boost from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RACE shares. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.