Ninety One UK Ltd Acquires Shares of 905,123 Ferrari N.V. $RACE

Key Points

• Ninety One UK Ltd purchased a new stake of 905,123 shares in Ferrari N.V. (NYSE:RACE), valued at roughly $338.8 million and representing about 0.37% ownership at the end of the quarter.
• Ferrari raised its annual dividend to $3.615 per share (up from $3.13), with an ex-dividend date of April 21 and a payment scheduled for May 5.
• Analyst sentiment is broadly positive: MarketBeat shows a consensus rating of Moderate Buy with an average price target of $469.06, and the stock was trading near $372.88, up about 4.6%.

Ninety One UK Ltd purchased a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 905,123 shares of the company's stock, valued at approximately $338,785,000. Ninety One UK Ltd owned approximately 0.37% of Ferrari at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in RACE. AQR Capital Management LLC grew its position in shares of Ferrari by 78.9% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ferrari by 31.1% in 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 in the last quarter. Woodline Partners LP purchased a new stake in shares of Ferrari in the first quarter valued at approximately $1,519,000. Sivia Capital Partners LLC grew its position in shares of Ferrari by 67.5% in 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 in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Ferrari by 7.5% in 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 in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Ferrari from a "strong sell" rating to a "hold" rating in a research report on Monday, February 2nd. Jefferies Financial Group upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, March 31st. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a research report on Wednesday, February 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Ferrari in a research report on Friday, April 10th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $410.00 price objective 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 assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $469.06.

Ferrari Trading Up 4.6%

RACE opened at $372.88 on Friday. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The business has a fifty day simple moving average of $350.67 and a 200-day simple moving average of $373.83. The firm has a market cap of $87.23 billion, a P/E ratio of 36.88, a P/E/G ratio of 3.37 and a beta of 1.00. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be given a dividend of $3.615 per share. This is an increase from Ferrari's previous annual dividend of $3.13. This represents a dividend yield of 99.0%. 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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