Investment House LLC Boosts Stake in Ferrari N.V. $RACE

Investment House LLC boosted its stake in shares of Ferrari N.V. (NYSE:RACE) by 82.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,608 shares of the company’s stock after buying an additional 2,995 shares during the period. Investment House LLC’s holdings in Ferrari were worth $2,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Ferrari by 63.7% during the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock worth $1,295,907,000 after buying an additional 1,039,234 shares during the period. Alta Capital Management LLC purchased a new stake in Ferrari during the third quarter worth $6,391,000. Teacher Retirement System of Texas purchased a new stake in Ferrari during the third quarter worth $8,995,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Ferrari by 45.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,587 shares of the company’s stock worth $4,656,000 after buying an additional 2,991 shares during the period. Finally, Caprock Group LLC purchased a new stake in Ferrari during the third quarter worth $1,484,000.

Analysts Set New Price Targets

Several brokerages have recently commented on RACE. Sanford C. Bernstein reiterated an “outperform” rating and set a $410.00 price objective on shares of Ferrari in a report on Wednesday, February 11th. Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a report on Thursday, February 12th. Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. increased their price objective on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

Ferrari Stock Performance

Shares of RACE opened at $329.52 on Wednesday. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10. The stock has a fifty day moving average price of $339.56 and a 200-day moving average price of $360.92. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The firm has a market cap of $77.09 billion, a PE ratio of 31.62, a P/E/G ratio of 3.10 and a beta of 0.95.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st were paid a $3.615 dividend. This is a positive change from Ferrari’s previous annual dividend of $3.13. The ex-dividend date was Tuesday, April 21st. This represents a yield of 119.0%. Ferrari’s dividend payout ratio (DPR) is 4.94%.

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.