Sands Capital Management LLC Has $122.13 Million Stake in Ferrari N.V. $RACE

Key Points

• Sands Capital Management LLC increased its stake in Ferrari N.V. by 3.3% in Q3 to 251,698 shares, valued at about $122.13 million (roughly 0.10% of the company).
• MarketBeat shows a consensus rating of "Moderate Buy" for Ferrari with a consensus price target of $475.61, backed by multiple strong-buy and overweight analyst recommendations.
• Ferrari raised its annual dividend to $3.615 (up from $3.13), with shareholders of record on April 21 and payment scheduled for May 5.

Sands Capital Management LLC boosted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251,698 shares of the company's stock after buying an additional 7,981 shares during the period. Sands Capital Management LLC owned approximately 0.10% of Ferrari worth $122,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RACE. Mather Group LLC. bought a new stake in shares of Ferrari in the 3rd quarter valued at about $27,000. Westside Investment Management Inc. raised its holdings in Ferrari by 100.0% in the third quarter. Westside Investment Management Inc. now owns 56 shares of the company's stock worth $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC bought a new position in shares of Ferrari during the third quarter worth $28,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Ferrari in the 2nd quarter valued at $30,000. Finally, Virtus Advisers LLC acquired a new stake in Ferrari during the 2nd quarter worth $34,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RACE shares. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research report on Wednesday, February 11th. Oddo Bhf lowered shares of Ferrari to a "neutral" rating in a report on Wednesday, December 10th. Barclays set a $420.00 price objective on shares of Ferrari and gave the company an "overweight" rating in a research report on Tuesday, December 9th. The Goldman Sachs Group upgraded Ferrari to a "strong-buy" rating in a report on Monday, November 24th. Finally, Loop Capital set a $481.67 price target on Ferrari in a research note on Thursday, December 4th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $475.61.

Ferrari Price Performance

Shares of NYSE RACE opened at $346.37 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. The business has a 50-day moving average of $357.59 and a 200-day moving average of $400.17. The stock has a market capitalization of $81.03 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 3.38 and a beta of 0.97. Ferrari N.V. has a fifty-two week low of $328.00 and a fifty-two week high of $519.10.

Ferrari Increases Dividend

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

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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