Strive Asset Management LLC Invests $850,000 in Ferrari (NYSE:RACE)

Strive Asset Management LLC bought a new position in shares of Ferrari (NYSE:RACE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the company's stock, valued at approximately $850,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Charles Schwab Investment Management Inc. grew its stake in shares of Ferrari by 8.0% during the fourth 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 period. Fox Run Management L.L.C. acquired a new position in shares of Ferrari during the fourth quarter worth about $853,000. Russell Investments Group Ltd. boosted its position in shares of Ferrari by 2.6% during the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after buying an additional 3,277 shares during the period. Sapient Capital LLC boosted its position in shares of Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after buying an additional 653 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Ferrari during the fourth quarter worth about $3,371,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. StockNews.com lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Price Performance

NYSE:RACE opened at $498.99 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock's 50 day moving average price is $447.01 and its two-hundred day moving average price is $447.04. The firm has a market capitalization of $120.94 billion, a price-to-earnings ratio of 54.53, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.06. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 earnings per share. On average, analysts anticipate that Ferrari will post 9.22 earnings per share for the current year.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were given a dividend of $3.1265 per share. The ex-dividend date was Wednesday, April 23rd. This represents a yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio is currently 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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