Arosa Capital Management LP Acquires 2,400 Shares of Ferrari (NYSE:RACE)

Arosa Capital Management LP lifted its position in Ferrari (NYSE:RACE) by 36.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,000 shares of the company’s stock after buying an additional 2,400 shares during the period. Ferrari comprises 1.5% of Arosa Capital Management LP’s portfolio, making the stock its 16th largest holding. Arosa Capital Management LP’s holdings in Ferrari were worth $3,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RACE. Vanguard Group Inc. lifted its holdings in Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock worth $2,002,581,000 after purchasing an additional 45,754 shares in the last quarter. Bank of Italy increased its holdings in Ferrari by 2.8% during the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after purchasing an additional 63,675 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after purchasing an additional 594,547 shares during the period. Norges Bank purchased a new stake in shares of Ferrari during the fourth quarter valued at about $697,226,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after purchasing an additional 38,356 shares in the last quarter.

Ferrari Trading Up 0.8 %

NYSE:RACE opened at $460.70 on Friday. The stock has a market capitalization of $111.66 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 4.43 and a beta of 1.03. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The stock has a fifty day moving average price of $445.37 and a two-hundred day moving average price of $447.16. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RACE shares. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. UBS Group dropped their price target on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $481.60.

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.