Banco Santander S.A. Acquires 16,663 Shares of Ferrari (NYSE:RACE)

Banco Santander S.A. grew its holdings in shares of Ferrari (NYSE:RACE) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 414,720 shares of the company’s stock after buying an additional 16,663 shares during the quarter. Ferrari accounts for about 2.1% of Banco Santander S.A.’s investment portfolio, making the stock its 8th largest holding. Banco Santander S.A. owned about 0.17% of Ferrari worth $176,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC raised its position in shares of 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 of Italy increased its stake in Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after purchasing an additional 63,675 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ferrari by 2.4% during the fourth 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 period. Swiss National Bank lifted its position in shares of Ferrari by 0.5% in the 3rd quarter. Swiss National Bank now owns 377,857 shares of the company’s stock worth $177,157,000 after buying an additional 1,914 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Ferrari by 6.1% in the 3rd quarter. Barclays PLC now owns 286,564 shares of the company’s stock valued at $134,719,000 after buying an additional 16,428 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 0.8 %

Shares of RACE stock opened at $450.14 on Friday. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market cap of $109.10 billion, a PE ratio of 49.20, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The stock has a 50 day moving average of $452.18 and a 200-day moving average of $456.95.

Ferrari Increases Dividend

The company also recently disclosed 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. 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 payout ratio is currently 5.63%.

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.