Bank of Montreal Can Increases Stock Holdings in Ferrari (NYSE:RACE)

Bank of Montreal Can raised its position in Ferrari (NYSE:RACE) by 12.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 204,025 shares of the company’s stock after acquiring an additional 22,486 shares during the quarter. Bank of Montreal Can’s holdings in Ferrari were worth $86,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Ferrari by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company’s stock valued at $4,412,000 after purchasing an additional 1,864 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Ferrari in the 3rd quarter valued at approximately $298,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Ferrari in the third quarter worth $335,000. National Bank of Canada FI increased its position in shares of Ferrari by 1.8% during the third quarter. National Bank of Canada FI now owns 2,308 shares of the company’s stock worth $1,081,000 after acquiring an additional 40 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Ferrari in the third quarter valued at $549,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. UBS Group reduced their target price on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus price target of $490.29.

Ferrari Stock Down 0.0 %

Shares of NYSE:RACE opened at $398.50 on Wednesday. The firm has a 50 day simple moving average of $453.51 and a 200-day simple moving average of $449.53. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $96.59 billion, a PE ratio of 43.55, a P/E/G ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The business 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 $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 yield of 0.5%. Ferrari’s payout ratio is 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.