Ycg LLC Raises Holdings in Ferrari (NYSE:RACE)

Ycg LLC grew its position in Ferrari (NYSE:RACE) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,586 shares of the company’s stock after buying an additional 25 shares during the quarter. Ferrari accounts for 1.2% of Ycg LLC’s holdings, making the stock its 28th largest holding. Ycg LLC’s holdings in Ferrari were worth $15,318,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC purchased a new stake in shares of Ferrari during the 1st quarter worth $33,000. Register Financial Advisors LLC purchased a new stake in shares of Ferrari during the 1st quarter worth $33,000. Jamison Private Wealth Management Inc. purchased a new stake in shares of Ferrari during the 4th quarter worth $27,000. Pittenger & Anderson Inc. lifted its stake in shares of Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after purchasing an additional 59 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on RACE. Jefferies Financial Group began coverage on Ferrari in a research note on Friday, May 10th. They set a “hold” rating and a $403.00 price objective for the company. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Bank of America increased their price target on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Sanford C. Bernstein increased their price target on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $461.67.

Ferrari Trading Up 1.6 %

Shares of RACE stock traded up $6.70 during mid-day trading on Friday, reaching $435.17. The stock had a trading volume of 163,630 shares, compared to its average volume of 276,271. The business’s fifty day moving average is $416.06 and its 200-day moving average is $400.42. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a 1-year low of $285.02 and a 1-year high of $442.80.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.04 by $0.08. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. As a group, research analysts expect that Ferrari will post 8.2 earnings per share for the current year.

Ferrari Dividend Announcement

The business also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a dividend of $2.443 per share. This represents a yield of 0.62%. The ex-dividend date was Monday, April 22nd. Ferrari’s dividend payout ratio (DPR) is 33.46%.

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.