Flossbach Von Storch SE Increases Position in Ferrari N.V. (NYSE:RACE)

Flossbach Von Storch SE increased its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 18.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,236 shares of the company's stock after buying an additional 7,745 shares during the quarter. Flossbach Von Storch SE's holdings in Ferrari were worth $20,886,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RACE. Charles Schwab Investment Management Inc. raised its position in Ferrari by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after purchasing an additional 755 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Ferrari in the 4th quarter worth about $853,000. Zurich Insurance Group Ltd FI raised its position in shares of Ferrari by 13.2% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock worth $34,042,000 after acquiring an additional 9,274 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after acquiring an additional 3,277 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Ferrari by 144.3% in the 4th quarter. National Bank of Canada FI now owns 5,638 shares of the company's stock worth $2,400,000 after acquiring an additional 3,330 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on RACE shares. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, UBS Group raised their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Performance

RACE stock traded up $4.43 during midday trading on Thursday, reaching $495.44. 111,612 shares of the company's stock traded hands, compared to its average volume of 408,050. The company has a 50-day moving average price of $480.24 and a two-hundred day moving average price of $456.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $509.13. The firm has a market capitalization of $120.08 billion, a PE ratio of 52.43, a price-to-earnings-growth ratio of 5.56 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last issued its earnings results 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. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate 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.