Marietta Investment Partners LLC Purchases 29 Shares of Ferrari (NYSE:RACE)

Marietta Investment Partners LLC boosted its position in Ferrari (NYSE:RACE) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,805 shares of the company’s stock after acquiring an additional 29 shares during the quarter. Ferrari accounts for approximately 1.6% of Marietta Investment Partners LLC’s portfolio, making the stock its 18th largest holding. 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 institutional investors have also added to or reduced their stakes in RACE. Bank Julius Baer & Co. Ltd Zurich increased its stake in Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock valued at $107,770,000 after acquiring an additional 192,694 shares during the last quarter. Corient Private Wealth LLC increased its stake in 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 during the last quarter. Quadrature Capital Ltd increased its stake 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. BNP Paribas Financial Markets increased its stake in 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 during the last quarter. Finally, Temasek Holdings Private Ltd bought a new position in Ferrari in the third quarter valued at $43,801,000.

Wall Street Analysts Forecast Growth

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

Ferrari Stock Performance

Shares of RACE opened at $436.10 on Friday. 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 business’s 50 day moving average price is $456.03 and its 200-day moving average price is $454.22. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The stock has a market cap of $105.70 billion, a P/E ratio of 47.66, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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