Artisan Partners Limited Partnership Takes $46.91 Million Position in Ferrari (NYSE:RACE)

Artisan Partners Limited Partnership purchased a new position in Ferrari (NYSE:RACE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 110,414 shares of the company’s stock, valued at approximately $46,908,000.

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Ferrari by 62.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,692 shares of the company’s stock worth $8,451,000 after buying an additional 7,563 shares during the last quarter. Vanguard Group Inc. lifted its stake in Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock worth $2,002,581,000 after purchasing an additional 45,754 shares during the last quarter. LPL Financial LLC lifted its stake in Ferrari by 18.8% during the fourth quarter. LPL Financial LLC now owns 43,792 shares of the company’s stock worth $18,605,000 after purchasing an additional 6,930 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Ferrari during the fourth quarter valued at $853,000. Finally, Sei Investments Co. increased its stake in Ferrari by 13.9% during the fourth quarter. Sei Investments Co. now owns 47,674 shares of the company’s stock valued at $20,251,000 after purchasing an additional 5,805 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $429.93 on Friday. The firm has a market capitalization of $104.21 billion, a PE ratio of 46.99, a P/E/G ratio of 4.43 and a beta of 0.94. 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 50-day moving average price of $456.00 and a 200 day moving average price of $452.46. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued 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 payout ratio is presently 5.63%.

Analysts Set New Price Targets

Several research firms have recently commented on RACE. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Finally, Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.