China Universal Asset Management Co. Ltd. Grows Stock Holdings in Ferrari N.V. $RACE

Key Points

• China Universal Asset Management increased its stake in Ferrari (NYSE: RACE) by 716.8% in Q4, buying an additional 7,448 shares to hold 8,487 shares worth about $3.14 million.
• Analyst sentiment is broadly positive with a MarketBeat consensus of a "Moderate Buy" and an average price target of $469.06; JPMorgan recently upgraded its price objective to $447 and rated Ferrari "overweight."
• Ferrari raised its annual dividend to $3.615 per share (record date April 21, payable May 5), up from the prior $3.13 per share.

China Universal Asset Management Co. Ltd. increased its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 716.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,487 shares of the company's stock after purchasing an additional 7,448 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Ferrari were worth $3,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in RACE. AQR Capital Management LLC raised its holdings in shares of Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company's stock valued at $1,527,000 after purchasing an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ferrari by 31.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company's stock valued at $82,000 after purchasing an additional 46 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Ferrari during the first quarter valued at approximately $1,519,000. Sivia Capital Partners LLC raised its holdings in shares of Ferrari by 67.5% during the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company's stock valued at $448,000 after purchasing an additional 368 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Ferrari by 7.5% during the second quarter. Rhumbline Advisers now owns 1,370 shares of the company's stock valued at $672,000 after purchasing an additional 96 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RACE shares. HSBC reissued a "hold" rating on shares of Ferrari in a report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Zacks Research raised shares of Ferrari from a "strong sell" rating to a "hold" rating in a report on Monday, February 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Ferrari in a report on Friday, April 10th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $469.06.

Ferrari Stock Performance

Shares of NYSE RACE opened at $354.46 on Friday. The firm has a 50 day moving average of $350.08 and a 200 day moving average of $370.12. The company has a current ratio of 5.70, a quick ratio of 4.38 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $82.93 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 3.39 and a beta of 1.00. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $519.10.

Ferrari Increases Dividend

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

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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