Artisan Partners Limited Partnership Purchases Shares of 110,414 Ferrari (NYSE:RACE)

Artisan Partners Limited Partnership acquired a new position in Ferrari (NYSE:RACE) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 110,414 shares of the company’s stock, valued at approximately $46,908,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RACE. Fox Run Management L.L.C. acquired a new position in Ferrari in the fourth quarter worth approximately $853,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock worth $4,307,000 after acquiring an additional 755 shares during the last quarter. Sapient Capital LLC raised its position in shares of Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after purchasing an additional 653 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ferrari during the fourth quarter valued at $3,371,000. Finally, Allworth Financial LP boosted its position in shares of Ferrari by 35.1% in the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after purchasing an additional 85 shares during the period.

Ferrari Trading Up 0.7 %

Shares of NYSE:RACE opened at $429.93 on Friday. The firm has a fifty day moving average of $456.00 and a two-hundred day moving average of $452.46. 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 has a 12-month low of $399.27 and a 12-month high of $509.13. The firm has a market capitalization of $104.21 billion, a P/E ratio of 46.99, a price-to-earnings-growth 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 given a dividend of $3.1265 per share. This is a boost from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price 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.