Capital Wealth Planning LLC Has $3.75 Million Stock Position in Ferrari (NYSE:RACE)

Capital Wealth Planning LLC grew its position in Ferrari (NYSE:RACE) by 22.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,185 shares of the company’s stock after buying an additional 1,674 shares during the quarter. Capital Wealth Planning LLC’s holdings in Ferrari were worth $3,751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RACE. International Assets Investment Management LLC acquired a new position in shares of Ferrari in the fourth quarter worth about $480,000. Principal Securities Inc. purchased a new stake in shares of Ferrari in the fourth quarter worth approximately $158,000. Dimensional Fund Advisors LP lifted its position in shares of Ferrari by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 112,629 shares of the company’s stock worth $38,117,000 after purchasing an additional 9,010 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Ferrari by 1.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,862 shares of the company’s stock worth $1,307,000 after purchasing an additional 51 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its position in shares of Ferrari by 6.2% in the fourth quarter. Financial Advocates Investment Management now owns 2,383 shares of the company’s stock worth $805,000 after purchasing an additional 140 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley increased their price target on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Finally, UBS Group raised their price objective on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $481.67.

Ferrari Trading Down 0.6 %

Shares of RACE opened at $469.09 on Monday. Ferrari has a twelve month low of $285.02 and a twelve month high of $498.23. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average price is $446.99 and its 200 day moving average price is $428.51.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $1.99 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts forecast that Ferrari will post 8.71 EPS for the current year.

Ferrari 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.