Occudo Quantitative Strategies LP Reduces Holdings in Ferrari (NYSE:RACE)

Occudo Quantitative Strategies LP lessened its holdings in Ferrari (NYSE:RACE - Free Report) by 57.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,727 shares of the company's stock after selling 2,365 shares during the period. Occudo Quantitative Strategies LP's holdings in Ferrari were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RACE. Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 755 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Ferrari during the 4th quarter worth approximately $853,000. Russell Investments Group Ltd. boosted its position in shares of Ferrari by 2.6% during the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after purchasing an additional 3,277 shares during the period. Sapient Capital LLC increased its holdings in 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 during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ferrari in the 4th quarter valued at approximately $3,371,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group raised their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. StockNews.com downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ferrari has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Up 0.8%

Shares of RACE stock traded up $4.20 during trading hours on Friday, reaching $498.99. 184,101 shares of the stock were exchanged, compared to its average volume of 330,721. The business's fifty day moving average is $447.01 and its two-hundred day moving average is $447.04. The firm 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. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. 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 announced its quarterly earnings data 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. The business 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 company's revenue was up 13.0% on a year-over-year basis. During the same period last year, the business earned $1.95 EPS. As a group, research analysts expect that Ferrari will post 9.22 EPS for the current fiscal year.

Ferrari Increases Dividend

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