DJE Kapital AG Makes New Investment in Ferrari (NYSE:RACE)

DJE Kapital AG purchased a new position in Ferrari (NYSE:RACE) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 19,314 shares of the company’s stock, valued at approximately $8,234,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RACE. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari in the fourth quarter worth $26,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari in the third quarter worth $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari in the third quarter worth $33,000. Armstrong Advisory Group Inc. increased its stake in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Ferrari in the fourth quarter worth $45,000.

Analyst Upgrades and Downgrades

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

Ferrari Stock Up 0.9 %

Shares of NYSE RACE opened at $464.47 on Monday. The company’s 50-day simple moving average is $449.85 and its 200-day simple moving average is $457.04. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. The firm has a market cap of $113.21 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is a positive change 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 dividend payout ratio (DPR) is 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.