Bank of Montreal Can Has $114.32 Million Holdings in Ferrari N.V. $RACE

Bank of Montreal Can increased its holdings in Ferrari N.V. (NYSE:RACE) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,640 shares of the company’s stock after purchasing an additional 15,729 shares during the period. Bank of Montreal Can owned approximately 0.10% of Ferrari worth $114,320,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in Ferrari in the 3rd quarter worth approximately $27,000. Westside Investment Management Inc. grew its holdings in Ferrari by 100.0% during the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. Root Financial Partners LLC acquired a new position in Ferrari during the third quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of Ferrari in the second quarter valued at approximately $30,000. Finally, Virtus Advisers LLC bought a new position in shares of Ferrari in the second quarter valued at approximately $34,000.

Ferrari Price Performance

NYSE:RACE opened at $340.78 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. Ferrari N.V. has a one year low of $328.00 and a one year high of $519.10. The company has a fifty day moving average price of $357.02 and a 200 day moving average price of $399.75. The stock has a market cap of $79.73 billion, a P/E ratio of 33.70, a PEG ratio of 3.38 and a beta of 0.97.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st will be paid a $3.615 dividend. The ex-dividend date is Tuesday, April 21st. This is a boost from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 99.0%.

Wall Street Analyst Weigh In

RACE has been the subject of several recent analyst reports. Loop Capital set a $481.67 price objective on shares of Ferrari in a report on Thursday, December 4th. The Goldman Sachs Group upgraded shares of Ferrari to a “strong-buy” rating in a report on Monday, November 24th. JPMorgan Chase & Co. boosted their target price on shares of Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. UBS Group decreased their price target on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a report on Friday, January 9th. Finally, Barclays set a $420.00 price target on Ferrari and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $475.61.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.