Verdence Capital Advisors LLC Has $781,000 Stock Holdings in Ferrari (NYSE:RACE)

Verdence Capital Advisors LLC grew its stake in shares of Ferrari (NYSE:RACEFree Report) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,309 shares of the company’s stock after purchasing an additional 202 shares during the period. Verdence Capital Advisors LLC’s holdings in Ferrari were worth $781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. acquired a new stake in Ferrari in the fourth quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd bought a new stake in Ferrari during the 2nd quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after buying an additional 80 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 30 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Ferrari during the fourth quarter valued at about $38,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RACE. UBS Group upped their target price on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. Finally, Sanford C. Bernstein lifted their price objective on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $393.86.

Get Our Latest Stock Report on Ferrari

Ferrari Trading Down 1.0 %

Shares of NYSE:RACE opened at $408.65 on Monday. Ferrari has a 1 year low of $272.70 and a 1 year high of $442.80. 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 business has a fifty day moving average price of $416.97 and a two-hundred day moving average price of $367.95.

Ferrari (NYSE:RACEGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. Sell-side analysts anticipate that Ferrari will post 8.31 EPS for the current year.

Ferrari Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be issued a $2.443 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a dividend yield of 0.62%.

Ferrari Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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