Madison Investment Advisors LLC Purchases New Shares in Ferrari (NYSE:RACE)

Madison Investment Advisors LLC purchased a new stake in Ferrari (NYSE:RACE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,536 shares of the company’s stock, valued at approximately $1,502,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RACE. Thrivent Financial for Lutherans raised its position in Ferrari by 63.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock valued at $1,274,000 after buying an additional 1,051 shares during the last quarter. Caprock Group LLC raised its position in Ferrari by 1.7% in the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after buying an additional 31 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Ferrari during the 3rd quarter valued at $257,000. PNC Financial Services Group Inc. increased its position in shares of Ferrari by 0.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,329 shares of the company’s stock valued at $6,736,000 after purchasing an additional 101 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Ferrari by 6.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,824 shares of the company’s stock valued at $857,000 after purchasing an additional 105 shares during the last quarter.

Ferrari Stock Down 1.8 %

RACE stock opened at $436.10 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a market capitalization of $105.70 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The stock has a fifty day moving average of $456.03 and a 200-day moving average of $454.22.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is presently 5.63%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RACE shares. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

About Ferrari

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.