Baypointe Partners LLC Has $3.24 Million Stock Position in Ferrari N.V. $RACE

Key Points

• Baypointe Partners LLC increased its stake in Ferrari by 200.8% in Q4 and now owns 8,775 shares valued at about $3.24 million, representing roughly 6.8% of the firm's portfolio and its fifth-largest holding.
• Ferrari raised its annual dividend to $3.615 per share (up from $3.13); the record/ex-dividend date is April 21 and the payment date is May 5.
• Shares opened at $341.84 with a one-year range of $312.51–$519.10 and a market cap near $79.97 billion; analysts' consensus is a Moderate Buy with an average price target of $469.06.

Baypointe Partners LLC grew its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 200.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,775 shares of the company's stock after purchasing an additional 5,858 shares during the quarter. Ferrari comprises approximately 6.8% of Baypointe Partners LLC's portfolio, making the stock its 5th biggest holding. Baypointe Partners LLC's holdings in Ferrari were worth $3,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in Ferrari during the third quarter worth about $27,000. Westside Investment Management Inc. boosted its position in Ferrari by 100.0% during the third quarter. Westside Investment Management Inc. now owns 56 shares of the company's stock worth $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Ferrari in the third quarter worth about $28,000. Community Bank N.A. purchased a new stake in shares of Ferrari in the third quarter worth about $33,000. Finally, CX Institutional lifted its holdings in shares of Ferrari by 227.3% in the third quarter. CX Institutional now owns 72 shares of the company's stock worth $35,000 after buying an additional 50 shares in the last quarter.

Ferrari Stock Up 0.2%

Shares of NYSE RACE opened at $341.84 on Monday. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. The firm's 50 day simple moving average is $347.32 and its two-hundred day simple moving average is $366.19. The stock has a market capitalization of $79.97 billion, a P/E ratio of 33.81, a PEG ratio of 3.23 and a beta of 0.95.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be given a dividend of $3.615 per share. The ex-dividend date is Tuesday, April 21st. This is an increase from Ferrari's previous annual dividend of $3.13. This represents a yield of 119.0%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RACE. Citigroup raised shares of Ferrari from a "sell" rating to a "neutral" rating in a report on Thursday, February 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Ferrari in a report on Friday, April 10th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a report on Wednesday, February 11th. UBS Group lowered their price target on shares of Ferrari from $555.00 to $483.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. Finally, Morgan Stanley set a $420.00 price target on shares of Ferrari in a report on Monday, February 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $469.06.

Ferrari Company 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.

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