Marietta Investment Partners LLC Has $7.14 Million Stock Holdings in Ferrari (NYSE:RACE)

Marietta Investment Partners LLC boosted its position in Ferrari (NYSE:RACE) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,805 shares of the company’s stock after buying an additional 29 shares during the period. Ferrari makes up approximately 1.6% of Marietta Investment Partners LLC’s portfolio, making the stock its 18th biggest position. Marietta Investment Partners LLC’s holdings in Ferrari were worth $7,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 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 worth $107,770,000 after purchasing an additional 192,694 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Ferrari by 1,226.4% in the fourth quarter. Corient Private Wealth LLC now owns 132,694 shares of the company’s stock valued at $56,153,000 after acquiring an additional 122,690 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Ferrari by 83.7% in the third 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 grew its holdings in shares of Ferrari by 89.9% in the third 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 bought a new position in shares of Ferrari in the third quarter valued at approximately $43,801,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 1.8 %

Ferrari stock opened at $436.10 on Friday. The stock has a market cap of $105.70 billion, a P/E ratio of 47.66, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The firm’s fifty day moving average price is $456.03 and its 200-day moving average price is $454.22. 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 Increases Dividend

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