642 Shares in Ferrari (NYSE:RACE) Acquired by PDS Planning Inc

PDS Planning Inc acquired a new position in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 642 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Duality Advisers LP increased its stake in shares of Ferrari by 50.2% in the 4th quarter. Duality Advisers LP now owns 17,878 shares of the company’s stock valued at $6,050,000 after purchasing an additional 5,974 shares during the last quarter. LRT Capital Management LLC bought a new position in shares of Ferrari in the 4th quarter valued at $248,000. CWM LLC increased its stake in shares of Ferrari by 9.5% in the 4th quarter. CWM LLC now owns 530 shares of the company’s stock valued at $179,000 after purchasing an additional 46 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Ferrari by 9.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,309 shares of the company’s stock worth $781,000 after acquiring an additional 202 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in Ferrari by 8.1% during the 4th quarter. Lindbrook Capital LLC now owns 508 shares of the company’s stock worth $172,000 after acquiring an additional 38 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RACE shares. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Sanford C. Bernstein lifted their target price on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Evercore ISI boosted their price objective on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday. Finally, UBS Group boosted their price objective on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $413.86.

Ferrari Stock Performance

Shares of RACE opened at $424.61 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The stock has a 50 day moving average price of $418.37 and a two-hundred day moving average price of $369.56. The firm has a market capitalization of $78.45 billion, a P/E ratio of 56.99, a P/E/G ratio of 3.14 and a beta of 0.97. Ferrari has a 52 week low of $273.39 and a 52 week high of $442.80.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. Equities analysts forecast that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be issued a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date is Monday, April 22nd. Ferrari’s dividend payout ratio is presently 6.91%.

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.