Miura Global Management LLC boosted its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,500 shares of the company's stock after purchasing an additional 1,000 shares during the quarter. Ferrari comprises approximately 2.1% of Miura Global Management LLC's holdings, making the stock its 18th largest position. Miura Global Management LLC's holdings in Ferrari were worth $1,912,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in RACE. Barclays PLC raised its holdings in Ferrari by 6.1% in the 3rd quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after acquiring an additional 16,428 shares in the last quarter. Franklin Resources Inc. raised its holdings in Ferrari by 60.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock valued at $10,707,000 after acquiring an additional 8,267 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ferrari by 8.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,539 shares of the company's stock valued at $1,194,000 after acquiring an additional 194 shares in the last quarter. Paragon Advisors LLC raised its holdings in Ferrari by 8.0% in the 4th quarter. Paragon Advisors LLC now owns 4,625 shares of the company's stock valued at $1,965,000 after acquiring an additional 342 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in Ferrari by 13.0% in the 4th quarter. Wedmont Private Capital now owns 539 shares of the company's stock valued at $231,000 after acquiring an additional 62 shares in the last quarter.
Wall Street Analyst Weigh In
RACE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, StockNews.com cut Ferrari from a "buy" rating to a "hold" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.
Check Out Our Latest Stock Analysis on RACE
Ferrari Price Performance
Shares of RACE traded up $4.20 during mid-day trading on Friday, reaching $498.99. The company had a trading volume of 184,101 shares, compared to its average volume of 330,129. The company's 50-day moving average is $445.89 and its 200-day moving average is $447.18. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a market capitalization of $120.94 billion, a P/E ratio of 54.53, a P/E/G ratio of 4.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.
Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating 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 analysts' expectations of $1.82 billion. During the same period last year, the firm posted $1.95 EPS. The business's revenue was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Ferrari will post 9.22 EPS 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 dividend of $3.1265 per share. This represents a yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend was Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is currently 5.45%.
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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