Fayez Sarofim & Co Grows Holdings in Ferrari N.V. (NYSE:RACE)

Key Points

• Fayez Sarofim & Co increased its stake in Ferrari N.V. by 23.0%, owning 10,020 shares worth approximately $4.29 million at the end of the first quarter.
• Ferrari reported earnings of $2.70 EPS, exceeding analyst expectations and a revenue of $2.12 billion for the quarter, marking a 4.4% increase compared to the previous year.
• Various hedge funds have adjusted their positions in Ferrari, with GW&K Investment Management increasing their stake by 288.9% during the same quarter.

Fayez Sarofim & Co boosted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,020 shares of the company's stock after acquiring an additional 1,871 shares during the period. Fayez Sarofim & Co's holdings in Ferrari were worth $4,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in shares of Ferrari by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after purchasing an additional 781,587 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $763,125,000 after purchasing an additional 594,547 shares during the last quarter. Barclays PLC boosted its stake in shares of Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after purchasing an additional 567,407 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after purchasing an additional 520,337 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after purchasing an additional 377,929 shares during the last quarter.

Analysts Set New Price Targets

RACE has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. UBS Group raised their target price 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. Finally, Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Down 1.1%

NYSE RACE traded down $4.72 during mid-day trading on Friday, hitting $443.96. The company's stock had a trading volume of 480,354 shares, compared to its average volume of 552,006. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. The stock's fifty day simple moving average is $480.54 and its two-hundred day simple moving average is $465.32. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The firm has a market capitalization of $107.61 billion, a P/E ratio of 45.82, a price-to-earnings-growth ratio of 4.82 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm posted $2.29 earnings per share. Ferrari's revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts expect that Ferrari N.V. will post 9.22 EPS for the current year.

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.