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

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Ferrari (NYSE:RACE) by 62.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,692 shares of the company’s stock after acquiring an additional 7,563 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ferrari were worth $8,451,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Hanson & Doremus Investment Management acquired a new position in Ferrari during the 4th quarter valued at about $26,000. Armstrong Advisory Group Inc. raised its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the fourth quarter worth approximately $45,000. Hobbs Group Advisors LLC bought a new position in Ferrari in the 3rd quarter worth approximately $47,000. Finally, Plato Investment Management Ltd acquired a new stake in Ferrari in the 4th quarter valued at approximately $53,000.

Ferrari Stock Up 0.7 %

RACE stock opened at $429.93 on Friday. The firm has a market cap of $104.21 billion, a PE ratio of 46.99, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The company has a fifty day simple moving average of $456.00 and a 200 day simple moving average of $452.36. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. The ex-dividend date 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 payout ratio is currently 5.63%.

Analyst Upgrades and Downgrades

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

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.