Argentarii LLC Acquires 3,201 Shares in Ferrari

In the fourth quarter, Argentarii LLC has made a noteworthy move by purchasing a new position in Ferrari (NYSE:RACE - Free Report), according to its latest 13F filing with the Securities and Exchange Commission (SEC). This institutional investor acquired 3,201 shares of Ferrari's stock, with a total value of approximately $1,360,000.

Recent Changes by Other Investors

Ferrari has seen some significant actions from other large investors as well. For instance, Jennison Associates LLC boosted its stake in the company by an astonishing 910.1% in the third quarter. They now hold 2,926,616 shares worth around $1,368,622,000 after adding 2,636,869 shares during the last quarter.

Meanwhile, the Bank of Italy increased its stake by 2.8% in the fourth quarter, now owning 2,339,620 shares valued at approximately $1,002,392,000 after acquiring an additional 63,675 shares. Likewise, Bank of New York Mellon Corp raised its ownership by 2.4%, resulting in a total of 1,612,108 shares, worth about $684,888,000 after purchasing 38,356 additional shares.

Banco Santander S.A. also enhanced its holdings by 4.2%, now owning 414,720 shares valued at $176,190,000 following the acquisition of 16,663 shares. Lastly, the Swiss National Bank increased its stake by 0.5% in the third quarter, bringing its total to 377,857 shares valued at $177,157,000 after acquiring an additional 1,914 shares.

Analyst Ratings Overview

Several analysts have recently adjusted their ratings on Ferrari. For example, StockNews.com downgraded Ferrari from a "buy" to a "hold" rating on March 4th. Barclays also made a similar downgrade, changing its rating from "overweight" to "equal weight" on February 5th. Furthermore, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari on February 6th, issuing a "hold" rating.

Currently, four research analysts have rated the stock with a hold rating, while six analysts have given it a buy rating. According to MarketBeat, Ferrari has a consensus rating of "Moderate Buy" and an average price target of $507.14.

Current Performance of Ferrari Stock

As of Friday, shares of Ferrari (NYSE:RACE) opened at $450.14. The stock's fifty-day moving average is $452.18, and its 200-day moving average is $456.88. Ferrari has a market capitalization of $109.10 billion, a price-to-earnings (P/E) ratio of 49.20, a P/E growth (P/E/G) ratio of 4.43, and a beta of 0.94. The company reports a debt-to-equity ratio of 0.93, a current ratio of 4.57, and a quick ratio of 3.55. Over the past year, Ferrari has experienced a low of $399.27 and a high of $509.13.

Dividend Announcement

Ferrari has also recently announced an increase in its annual dividend, set to be paid on Tuesday, May 6th. Shareholders recorded as of Wednesday, April 23rd, will receive a dividend of $3.1265. This marks an increase from the previous annual dividend of $2.44, with an ex-dividend date also set for April 23rd, providing a yield of 0.5%. The company's current dividend payout ratio stands at 5.63%.

Overview of Ferrari N.V.

Ferrari N.V. is involved in designing, engineering, producing, and selling luxury performance sports cars across the globe. The company offers various models including special series, Icona, and supercars, as well as limited edition and one-off cars, and track cars. It also produces racing cars and provides spare parts, engines, and an array of after-sales services including repair and maintenance for its cars.

Ferrari, Investments, Shares