Ferrari (NYSE:RACE) Stake Raised by Ossiam

Ossiam increased its holdings in Ferrari (NYSE:RACE) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,719 shares of the company’s stock after acquiring an additional 692 shares during the period. Ossiam’s holdings in Ferrari were worth $3,614,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC raised its stake in shares of Ferrari by 16.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,811 shares of the company’s stock worth $1,126,000 after purchasing an additional 532 shares in the last quarter. Pathstone Family Office LLC raised its stake in shares of Ferrari by 54.7% in the 3rd quarter. Pathstone Family Office LLC now owns 5,226 shares of the company’s stock valued at $1,545,000 after acquiring an additional 1,847 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Ferrari by 2.5% in the 3rd quarter. Blair William & Co. IL now owns 3,451 shares of the company’s stock valued at $1,020,000 after acquiring an additional 85 shares in the last quarter. Deutsche Bank AG lifted its holdings in Ferrari by 44.8% in the 3rd quarter. Deutsche Bank AG now owns 591,378 shares of the company’s stock worth $174,776,000 after purchasing an additional 183,000 shares during the last quarter. Finally, Marsico Capital Management LLC lifted its holdings in Ferrari by 142.7% in the 3rd quarter. Marsico Capital Management LLC now owns 19,937 shares of the company’s stock worth $5,892,000 after purchasing an additional 11,724 shares during the last quarter.

Analysts Set New Price Targets

RACE has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a report on Monday, April 22nd. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Evercore ISI boosted their target price on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Sanford C. Bernstein boosted their target price on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Jefferies Financial Group began coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $456.67.

Ferrari Trading Down 1.0 %

NYSE RACE traded down $3.99 during trading on Friday, hitting $412.93. The company’s stock had a trading volume of 184,240 shares, compared to its average volume of 202,054. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. The firm has a 50 day moving average price of $415.74 and a 200 day moving average price of $390.76. Ferrari has a 52 week low of $285.02 and a 52 week high of $442.80.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.04 by $0.08. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. Equities research analysts predict that Ferrari will post 8.2 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were given a dividend of $2.443 per share. This represents a dividend yield of 0.62%. The ex-dividend date of this dividend was Monday, April 22nd. Ferrari’s dividend payout ratio is presently 33.46%.

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.