Bank of New York Mellon Corp Has $684.89 Million Stock Position in Ferrari (NYSE:RACE)

Bank of New York Mellon Corp lifted its holdings in shares of Ferrari (NYSE:RACE) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,612,108 shares of the company’s stock after purchasing an additional 38,356 shares during the period. Bank of New York Mellon Corp owned 0.66% of Ferrari worth $684,888,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Jennison Associates LLC raised its position in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Bank of Italy increased its stake in shares of Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after buying an additional 63,675 shares during the period. Swiss National Bank raised its position in shares of Ferrari by 0.5% during the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock worth $177,157,000 after acquiring an additional 1,914 shares during the last quarter. Barclays PLC lifted its stake in shares of Ferrari by 6.1% in the third quarter. Barclays PLC now owns 286,564 shares of the company’s stock worth $134,719,000 after acquiring an additional 16,428 shares during the period. Finally, Quadrature Capital Ltd boosted its holdings in 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 during the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on RACE. UBS Group raised their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Up 1.1 %

Shares of NYSE RACE opened at $504.95 on Wednesday. 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 firm has a market cap of $123.08 billion, a PE ratio of 55.19, a P/E/G ratio of 4.43 and a beta of 0.95. The company’s fifty day simple moving average is $447.27 and its 200 day simple moving average is $456.36. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend 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.