Ossiam Raises Stake in Ferrari (NYSE:RACE)

Ossiam lifted its stake in shares of Ferrari (NYSE:RACE) by 12.3% during the 4th quarter, Holdings Channel reports. The fund owned 25,892 shares of the company’s stock after buying an additional 2,832 shares during the quarter. Ossiam’s holdings in Ferrari were worth $11,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hanson & Doremus Investment Management purchased a new position in Ferrari during the fourth quarter worth about $26,000. Armstrong Advisory Group Inc. increased its holdings in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Ferrari during the 4th quarter valued at approximately $45,000. Plato Investment Management Ltd acquired a new position in Ferrari in the fourth quarter valued at approximately $53,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Ferrari by 705.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock valued at $58,000 after acquiring an additional 120 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have commented on RACE. UBS Group reduced their target price on Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $481.60.

Ferrari Trading Up 1.6 %

NYSE RACE opened at $439.76 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The firm has a market cap of $106.59 billion, a price-to-earnings ratio of 48.06, a PEG ratio of 4.43 and a beta of 1.03. The firm has a 50 day simple moving average of $450.23 and a 200-day simple moving average of $447.40. Ferrari has a one year low of $391.54 and a one year high of $509.13.

Ferrari Increases Dividend

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

About Ferrari

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.