Ferrari (NYSE:RACE) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Ferrari (NYSE:RACE) by 62.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,692 shares of the company’s stock after purchasing an additional 7,563 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ferrari were worth $8,451,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock worth $2,002,581,000 after buying an additional 45,754 shares during the period. Bank of Italy lifted 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 worth $1,002,392,000 after acquiring an additional 63,675 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Ferrari by 2.4% in 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 acquiring an additional 38,356 shares during the period. William Blair Investment Management LLC grew its position in Ferrari by 6.4% in the fourth quarter. William Blair Investment Management LLC now owns 594,657 shares of the company’s stock valued at $252,634,000 after acquiring an additional 35,525 shares in the last quarter. Finally, Banco Santander S.A. raised its stake in shares of Ferrari by 4.2% during the fourth quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock valued at $176,190,000 after purchasing an additional 16,663 shares during the period.

Wall Street Analyst Weigh In

RACE has been the subject of several analyst reports. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $497.86.

Ferrari Stock Up 0.7 %

Shares of Ferrari stock opened at $429.93 on Friday. 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 business has a 50-day moving average price of $456.00 and a 200 day moving average price of $452.36. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The firm has a market cap of $104.21 billion, a P/E ratio of 46.99, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

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.