Novem Group Makes New $821,000 Investment in Ferrari (NYSE:RACE)

Novem Group purchased a new position in Ferrari (NYSE:RACE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,933 shares of the company's stock, valued at approximately $821,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after purchasing an additional 45,754 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after purchasing an additional 594,547 shares during the period. Norges Bank acquired a new stake in shares of Ferrari in the fourth quarter worth $697,226,000. Bank of New York Mellon Corp boosted its holdings in shares of Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after buying an additional 38,356 shares during the period. Finally, Marshall Wace LLP grew its stake in Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after buying an additional 520,337 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on RACE shares. UBS Group boosted 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. StockNews.com downgraded Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Down 0.6%

Ferrari stock opened at $496.18 on Thursday. The business has a 50 day moving average price of $450.05 and a two-hundred day moving average price of $447.67. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The stock has a market cap of $120.26 billion, a price-to-earnings ratio of 54.23, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $1.95 earnings per share. Ferrari's revenue was up 13.0% on a year-over-year basis. As a group, equities analysts forecast that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd were issued a dividend of $3.1265 per share. This represents a dividend yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend was Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is presently 5.45%.

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.

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