DAVENPORT & Co LLC purchased a new position in shares of Ferrari (NYSE:RACE – Get 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.
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.
- Get a free copy of the StockNews.com research report on Ferrari (RACE)
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