Temasek Holdings Private Ltd Trims Stake in Ferrari (NYSE:RACE)

Temasek Holdings Private Ltd reduced its position in Ferrari (NYSE:RACE - Free Report) by 84.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,478 shares of the company's stock after selling 78,693 shares during the quarter. Temasek Holdings Private Ltd's holdings in Ferrari were worth $6,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Ferrari by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after acquiring an additional 45,754 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after acquiring an additional 594,547 shares during the last quarter. Norges Bank purchased a new position in shares of Ferrari in the 4th quarter valued at approximately $697,226,000. Bank of New York Mellon Corp lifted its stake in shares of Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after purchasing an additional 38,356 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of 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 purchasing an additional 520,337 shares during the period.

Ferrari Stock Performance

RACE traded down $2.85 during midday trading on Wednesday, reaching $496.18. The company had a trading volume of 302,857 shares, compared to its average volume of 330,491. 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 business has a 50-day moving average of $449.11 and a two-hundred day moving average of $447.33. The company has a market cap of $120.26 billion, a P/E ratio of 54.23, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 1 year low of $391.54 and a 1 year 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 for the quarter, topping 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 firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. The business's quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that Ferrari will post 9.22 earnings per share for the current fiscal year.

Ferrari Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. Finally, UBS Group lifted their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ferrari has a consensus rating of "Moderate Buy" and an average price target of $526.25.

Ferrari 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.