William Blair Investment Management LLC Has $191.40 Million Stock Position in Ferrari N.V. $RACE

William Blair Investment Management LLC lessened its position in shares of Ferrari N.V. (NYSE:RACE) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 394,449 shares of the company’s stock after selling 36,379 shares during the quarter. William Blair Investment Management LLC owned about 0.16% of Ferrari worth $191,395,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Generali Asset Management SPA SGR raised its stake in shares of Ferrari by 28.9% during the third quarter. Generali Asset Management SPA SGR now owns 55,690 shares of the company’s stock worth $27,022,000 after buying an additional 12,485 shares during the last quarter. Rheos Capital Works Inc. boosted its stake in Ferrari by 33.1% in the third quarter. Rheos Capital Works Inc. now owns 215,200 shares of the company’s stock valued at $104,419,000 after acquiring an additional 53,500 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Ferrari by 63.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock worth $1,295,907,000 after acquiring an additional 1,039,234 shares during the period. Alta Capital Management LLC bought a new stake in shares of Ferrari during the 3rd quarter valued at $6,391,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Ferrari during the 3rd quarter valued at $8,995,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ferrari in a research note on Monday, December 29th. UBS Group reduced their target price on Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Ferrari in a research note on Wednesday, February 11th. Zacks Research upgraded shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $476.52.

Ferrari Trading Up 1.0%

NYSE RACE opened at $379.99 on Friday. Ferrari N.V. has a one year low of $328.00 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. The firm has a market cap of $88.90 billion, a P/E ratio of 37.58, a P/E/G ratio of 3.70 and a beta of 0.99. The stock’s 50-day moving average is $360.39 and its 200-day moving average is $405.96.

Ferrari Increases Dividend

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

Ferrari Profile

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.