Baillie Gifford & Co. grew its holdings in shares of Ferrari (NYSE:RACE – Get Rating) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,985,345 shares of the company’s stock after purchasing an additional 17,566 shares during the quarter. Ferrari makes up about 1.5% of Baillie Gifford & Co.’s portfolio, making the stock its 13th biggest holding. Baillie Gifford & Co. owned approximately 5.40% of Ferrari worth $2,207,596,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Compton Capital Management Inc. RI boosted its stake in Ferrari by 4.3% during the 4th quarter. Compton Capital Management Inc. RI now owns 1,200 shares of the company’s stock worth $311,000 after purchasing an additional 50 shares during the last quarter. Highland Capital Management LLC boosted its position in shares of Ferrari by 1.0% during the 1st quarter. Highland Capital Management LLC now owns 5,250 shares of the company’s stock valued at $1,145,000 after acquiring an additional 50 shares during the last quarter. Atria Investments LLC boosted its position in shares of Ferrari by 0.7% during the 1st quarter. Atria Investments LLC now owns 8,582 shares of the company’s stock valued at $1,872,000 after acquiring an additional 62 shares during the last quarter. MAI Capital Management boosted its position in shares of Ferrari by 1.9% during the 4th quarter. MAI Capital Management now owns 3,993 shares of the company’s stock valued at $1,033,000 after acquiring an additional 73 shares during the last quarter. Finally, Pacific Sun Financial Corp boosted its position in shares of Ferrari by 7.4% during the 1st quarter. Pacific Sun Financial Corp now owns 1,093 shares of the company’s stock valued at $238,000 after acquiring an additional 75 shares during the last quarter. 38.36% of the stock is currently owned by institutional investors.
RACE has been the topic of several recent research reports. BNP Paribas raised shares of Ferrari from a “neutral” rating to an “outperform” rating and set a $255.00 price target on the stock in a research report on Tuesday, April 12th. Kepler Capital Markets raised shares of Ferrari from a “reduce” rating to a “hold” rating in a research report on Wednesday, June 8th. JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $230.00 to $210.00 in a report on Monday, April 25th. Citigroup reduced their price objective on shares of Ferrari from €160.00 ($170.21) to €140.00 ($148.94) in a report on Tuesday, May 31st. Finally, Exane BNP Paribas upgraded shares of Ferrari from a “neutral” rating to an “outperform” rating and set a €255.00 ($271.28) price objective on the stock in a report on Tuesday, April 12th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.90.
Ferrari (NYSE:RACE – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. Ferrari had a return on equity of 40.26% and a net margin of 19.46%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.17 billion. As a group, equities analysts anticipate that Ferrari will post 4.89 earnings per share for the current year.
The business also recently disclosed an annual dividend, which was paid on Friday, May 6th. Stockholders of record on Wednesday, April 20th were given a dividend of $1.362 per share. This represents a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, April 19th. Ferrari’s dividend payout ratio is presently 27.26%.
About Ferrari (Get Rating)
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
- Get a free copy of the StockNews.com research report on Ferrari (RACE)
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