DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $62.04 Million Stock Position in Ferrari (NYSE:RACE)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Ferrari (NYSE:RACE - Free Report) by 26.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,013 shares of the company's stock after purchasing an additional 30,492 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned about 0.06% of Ferrari worth $62,035,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Ferrari by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after buying an additional 45,754 shares in the last quarter. Bank of Italy grew its stake in Ferrari by 2.8% during the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after acquiring an additional 63,675 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after acquiring an additional 594,547 shares in the last quarter. Norges Bank purchased a new stake in Ferrari during the 4th quarter valued at about $697,226,000. Finally, Bank of New York Mellon Corp grew its stake in Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after acquiring an additional 38,356 shares in the last quarter.

Ferrari Stock Performance

Shares of NYSE RACE traded up $4.79 during midday trading on Tuesday, hitting $491.55. The company's stock had a trading volume of 194,250 shares, compared to its average volume of 328,905. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The firm's fifty day moving average price is $442.96 and its 200-day moving average price is $446.51. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The firm has a market cap of $119.14 billion, a P/E ratio of 53.72, a P/E/G ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. Ferrari's revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 EPS. On average, sell-side analysts forecast that Ferrari will post 9.22 EPS for the current fiscal year.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd were given a $3.1265 dividend. This represents a yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend was Wednesday, April 23rd. Ferrari's payout ratio is currently 5.45%.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group lifted their target price on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Ferrari presently has an average rating of "Moderate Buy" and a consensus price target of $526.25.

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.