Ferrari (NYSE:RACE) Shares Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP boosted its holdings in Ferrari (NYSE:RACE) by 122.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,360 shares of the company’s stock after purchasing an additional 749 shares during the quarter. Dark Forest Capital Management LP’s holdings in Ferrari were worth $578,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fayez Sarofim & Co boosted its holdings in shares of Ferrari by 10.1% in the 4th quarter. Fayez Sarofim & Co now owns 8,149 shares of the company’s stock valued at $3,462,000 after buying an additional 745 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Ferrari by 4.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 3,209 shares of the company’s stock valued at $1,363,000 after acquiring an additional 131 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Ferrari by 13.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 9,319 shares of the company’s stock worth $3,955,000 after purchasing an additional 1,116 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Ferrari by 30.7% during the fourth quarter. MetLife Investment Management LLC now owns 14,780 shares of the company’s stock worth $6,332,000 after purchasing an additional 3,474 shares in the last quarter. Finally, NWK Group Inc. lifted its holdings in shares of Ferrari by 0.9% in the 4th quarter. NWK Group Inc. now owns 10,302 shares of the company’s stock valued at $4,377,000 after purchasing an additional 92 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RACE shares. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. UBS Group cut their target price on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $481.60.

Ferrari Trading Up 0.8 %

NYSE RACE opened at $460.70 on Friday. 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 stock has a market capitalization of $111.66 billion, a P/E ratio of 50.35, a P/E/G ratio of 4.43 and a beta of 1.03. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The firm has a 50-day moving average price of $445.37 and a 200 day moving average price of $447.22.

Ferrari Increases Dividend

The firm also recently announced 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 represents a dividend yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is 5.63%.

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.