Deutsche Bank AG Increases Stake in Ferrari (NYSE:RACE)

Deutsche Bank AG raised its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 816,592 shares of the company's stock after buying an additional 42,950 shares during the period. Deutsche Bank AG owned about 0.34% of Ferrari worth $346,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RACE. Norges Bank bought a new position in shares of Ferrari in the fourth quarter worth about $697,226,000. Price T Rowe Associates Inc. MD raised its stake in shares of Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after buying an additional 594,547 shares during the period. Barclays PLC raised its stake in shares of Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after buying an additional 567,407 shares during the period. Marshall Wace LLP raised its stake in shares of Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after buying an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after buying an additional 192,694 shares during the period.

Analysts Set New Price Targets

Several research firms have recently commented on RACE. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. cut their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, UBS Group upped their target price on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Price Performance

NYSE RACE traded up $7.55 during trading on Friday, hitting $488.26. 269,893 shares of the stock traded hands, compared to its average volume of 329,319. The company has a market capitalization of $118.34 billion, a P/E ratio of 53.36, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. The firm has a 50-day simple moving average of $442.38 and a 200-day simple moving average of $446.49. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. As a group, analysts predict that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd were issued a dividend of $3.1265 per share. This represents a yield of 0.5%. The ex-dividend date was Wednesday, April 23rd. This is a boost from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio (DPR) is currently 5.63%.

Ferrari Profile

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.