Deutsche Bank AG Purchases 42,950 Shares of Ferrari (NYSE:RACE)

Deutsche Bank AG grew its position in Ferrari (NYSE:RACE) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816,592 shares of the company’s stock after purchasing an additional 42,950 shares during the quarter. Deutsche Bank AG owned approximately 0.34% of Ferrari worth $346,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hanson & Doremus Investment Management purchased a new position in Ferrari in the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Ferrari during the fourth quarter worth $45,000. Plato Investment Management Ltd purchased a new position in Ferrari during the fourth quarter valued at $53,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock valued at $58,000 after acquiring an additional 120 shares during the last quarter.

Ferrari Stock Up 1.1 %

Shares of RACE opened at $482.09 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The business has a fifty day moving average of $441.81 and a 200 day moving average of $446.95. The company has a market cap of $116.85 billion, a PE ratio of 52.69, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $1.95 EPS. On average, sell-side analysts expect that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd were paid a dividend of $3.1265 per share. This is a boost from Ferrari’s previous annual dividend of $2.44. The ex-dividend date was Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is currently 5.63%.

Analyst Ratings Changes

Several research analysts have commented on RACE shares. UBS Group increased their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a report on Wednesday. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $501.60.

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.