DAVENPORT & Co LLC Makes New $273,000 Investment in Ferrari (NYSE:RACE)

DAVENPORT & Co LLC purchased a new position in shares of Ferrari (NYSE:RACEGet Rating) during the fourth quarter, Holdings Channel.com reports. The firm purchased 1,060 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors have also bought and sold shares of the company. Banque Pictet & Cie SA bought a new position in shares of Ferrari during the 4th quarter worth approximately $1,156,000. Barclays PLC raised its position in shares of Ferrari by 2.6% during the third quarter. Barclays PLC now owns 323,017 shares of the company’s stock worth $67,548,000 after purchasing an additional 8,268 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Ferrari by 24.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 124,123 shares of the company’s stock worth $25,966,000 after purchasing an additional 24,275 shares during the period. Alapocas Investment Partners Inc. acquired a new position in shares of Ferrari during the fourth quarter worth approximately $6,942,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Ferrari by 58.4% during the third quarter. Rockefeller Capital Management L.P. now owns 1,247 shares of the company’s stock worth $260,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 38.36% of the company’s stock.

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Ferrari from $230.00 to $210.00 in a research report on Monday, April 25th. Exane BNP Paribas raised Ferrari from a “neutral” rating to an “outperform” rating and set a €255.00 ($268.42) price target for the company in a research report on Tuesday, April 12th. Redburn Partners raised Ferrari from a “neutral” rating to a “buy” rating in a research report on Friday, March 11th. BNP Paribas raised Ferrari from a “neutral” rating to an “outperform” rating and set a $255.00 price target for the company in a research report on Tuesday, April 12th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $256.20.

Shares of NYSE:RACE traded up $0.49 on Thursday, hitting $188.99. The company’s stock had a trading volume of 628,938 shares, compared to its average volume of 448,437. The company has a 50-day simple moving average of $209.91 and a 200 day simple moving average of $232.87. Ferrari has a 1 year low of $178.87 and a 1 year high of $278.78. The company has a market capitalization of $34.92 billion, a PE ratio of 34.81, a PEG ratio of 3.65 and a beta of 0.94. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.82 and a quick ratio of 3.10.

The firm also recently declared an annual dividend, which was paid on Friday, May 6th. Shareholders of record on Wednesday, April 20th were issued a $1.362 dividend. The ex-dividend date of this dividend was Tuesday, April 19th. This represents a dividend yield of 0.66%.

Ferrari Company Profile (Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

See Also

Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari (NYSE:RACEGet Rating).

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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