Morse Asset Management Inc Purchases 1,060 Shares of Ferrari (NYSE:RACE)

Morse Asset Management Inc boosted its position in shares of Ferrari (NYSE:RACE - Free Report) by 20.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,299 shares of the company's stock after buying an additional 1,060 shares during the quarter. Morse Asset Management Inc's holdings in Ferrari were worth $2,679,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in RACE. Barclays PLC lifted its stake in Ferrari by 6.1% in the 3rd quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after purchasing an additional 16,428 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock valued at $10,707,000 after purchasing an additional 8,267 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Ferrari by 8.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,539 shares of the company's stock worth $1,194,000 after purchasing an additional 194 shares in the last quarter. Paragon Advisors LLC grew its position in shares of Ferrari by 8.0% during the 4th quarter. Paragon Advisors LLC now owns 4,625 shares of the company's stock valued at $1,965,000 after acquiring an additional 342 shares during the period. Finally, Wedmont Private Capital lifted its stake in shares of Ferrari by 13.0% during the 4th quarter. Wedmont Private Capital now owns 539 shares of the company's stock valued at $231,000 after buying an additional 62 shares in the last quarter.

Analysts Set New Price Targets

RACE has been the topic of several research reports. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. UBS Group upped their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday. JPMorgan Chase & Co. reduced their price target 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. Finally, Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Stock Performance

Shares of Ferrari stock traded up $4.20 during trading on Friday, reaching $498.99. The company's stock had a trading volume of 184,101 shares, compared to its average volume of 330,129. The company has a 50-day moving average price of $445.89 and a two-hundred day moving average price of $447.18. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market cap of $120.94 billion, a PE ratio of 54.53, a P/E/G ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last announced its 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. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $1.95 EPS. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast 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. Investors of record on Wednesday, April 23rd were given a dividend of $3.1265 per share. This is a positive change from Ferrari's previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 23rd. Ferrari's dividend payout ratio is currently 5.45%.

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.