USS Investment Management Ltd Acquires 584 Shares of Ferrari (NYSE:RACE)

USS Investment Management Ltd boosted its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,121 shares of the company's stock after purchasing an additional 584 shares during the period. USS Investment Management Ltd's holdings in Ferrari were worth $11,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. HBK Sorce Advisory LLC increased its holdings in Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after purchasing an additional 22 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock valued at $251,000 after purchasing an additional 25 shares during the period. PDS Planning Inc increased its holdings in Ferrari by 4.8% during the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock valued at $250,000 after purchasing an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock worth $140,000 after acquiring an additional 30 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Ferrari by 9.8% during the 4th quarter. Fifth Third Bancorp now owns 393 shares of the company's stock worth $167,000 after acquiring an additional 35 shares during the period.

Analyst Ratings Changes

RACE has been the topic of a number of research analyst reports. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a 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. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Down 3.1%

Shares of Ferrari stock traded down $15.22 during midday trading on Friday, hitting $476.08. The company had a trading volume of 487,411 shares, compared to its average volume of 332,052. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market capitalization of $115.39 billion, a P/E ratio of 52.03, a P/E/G ratio of 4.43 and a beta of 1.13. The company has a 50 day moving average of $451.37 and a 200 day moving average of $448.02. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.95 EPS. On average, equities analysts predict that Ferrari will post 9.22 earnings per share for the current fiscal 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 paid a $3.1265 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio 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.