KBC Group NV Has $2.32 Million Holdings in Ferrari N.V. (NYSE:RACE)

KBC Group NV trimmed its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 65.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,410 shares of the company's stock after selling 10,177 shares during the period. KBC Group NV's holdings in Ferrari were worth $2,315,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RACE. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after buying an additional 45,754 shares during the period. Bank of Italy lifted its position in shares of Ferrari by 2.9% in the 1st quarter. Bank of Italy now owns 2,407,271 shares of the company's stock valued at $1,021,078,000 after acquiring an additional 67,651 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after acquiring an additional 594,547 shares in the last quarter. Norges Bank acquired a new position in Ferrari in the 4th quarter worth approximately $697,226,000. Finally, Marshall Wace LLP grew its position in 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 in the last quarter.

Analyst Ratings Changes

RACE has been the subject of a number of research analyst reports. 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 report on Thursday, March 27th. UBS Group increased their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Stock Performance

Shares of NYSE:RACE traded down $1.12 during midday trading on Friday, hitting $490.44. The company's stock had a trading volume of 201,602 shares, compared to its average volume of 344,980. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09. The stock's 50 day simple moving average is $477.96 and its 200 day simple moving average is $455.07. The stock has a market capitalization of $118.87 billion, a price-to-earnings ratio of 51.90, a PEG ratio of 5.59 and a beta of 1.09. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. As a group, research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

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.