Ferrari (NYSE:RACE) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,027 shares of the company's stock after purchasing an additional 18,577 shares during the quarter. Nuveen Asset Management LLC owned 0.19% of Ferrari worth $195,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of 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 valued at $2,002,581,000 after purchasing an additional 45,754 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after purchasing an additional 594,547 shares in the last quarter. Norges Bank bought a new position in shares of Ferrari during the fourth quarter valued at about $697,226,000. Bank of New York Mellon Corp lifted its position in shares of Ferrari by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after purchasing an additional 38,356 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after purchasing an additional 520,337 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RACE. UBS Group boosted their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, StockNews.com cut shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Performance

Shares of NYSE RACE traded down $1.71 during trading on Monday, reaching $497.03. 185,677 shares of the company traded hands, compared to its average volume of 330,141. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The stock has a market capitalization of $120.47 billion, a PE ratio of 54.32, a P/E/G ratio of 4.43 and a beta of 1.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a 50 day simple moving average of $447.01 and a 200-day simple moving average of $446.83.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The company's quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $1.95 earnings per share. Equities research analysts anticipate that Ferrari will post 9.22 earnings per share for the current year.

Ferrari Increases Dividend

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

Ferrari Company 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.