Thornburg Investment Management Inc. increased its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,960 shares of the company's stock after buying an additional 1,919 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Ferrari were worth $36,094,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RACE. Charles Schwab Investment Management Inc. boosted its holdings in Ferrari by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock valued at $4,307,000 after acquiring an additional 755 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Ferrari in the 4th quarter worth about $853,000. Russell Investments Group Ltd. lifted its stake in shares of Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock valued at $54,847,000 after purchasing an additional 3,277 shares in the last quarter. Sapient Capital LLC lifted its stake in shares of Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock valued at $28,737,000 after purchasing an additional 653 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ferrari during the 4th quarter worth about $3,371,000.
Ferrari Stock Down 0.6%
Shares of RACE stock traded down $2.85 on Wednesday, hitting $496.18. The stock had a trading volume of 302,857 shares, compared to its average volume of 330,491. The stock's 50 day moving average is $449.11 and its 200-day moving average is $447.33. The firm has a market capitalization of $120.26 billion, a price-to-earnings ratio of 54.23, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.
Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 22.81% and a return on equity of 46.69%. The firm's revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. As a group, research analysts expect that Ferrari will post 9.22 earnings per share for the current year.
Ferrari Increases Dividend
The firm also recently declared an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were issued a $3.1265 dividend. 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%.
Wall Street Analyst Weigh In
Several research analysts recently commented on RACE shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, UBS Group boosted their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $526.25.
Get Our Latest Report on RACE
About Ferrari
(
Free Report)
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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