Ninety One SA Pty Ltd Purchases New Shares in Ferrari N.V. $RACE

Ninety One SA Pty Ltd purchased a new position in Ferrari N.V. (NYSE:RACE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 31,680 shares of the company’s stock, valued at approximately $11,858,000. Ferrari makes up about 0.5% of Ninety One SA Pty Ltd’s portfolio, making the stock its 28th biggest holding.

A number of other large investors also recently added to or reduced their stakes in RACE. Benjamin Edwards Inc. grew its position in shares of Ferrari by 3.7% in the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock valued at $299,000 after purchasing an additional 22 shares during the period. Wealth Alliance LLC lifted its stake in Ferrari by 2.0% in the 3rd quarter. Wealth Alliance LLC now owns 1,251 shares of the company’s stock valued at $607,000 after buying an additional 25 shares in the last quarter. Pacific Sun Financial Corp lifted its stake in Ferrari by 2.5% in the 3rd quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after buying an additional 25 shares in the last quarter. Blue Trust Inc. boosted its holdings in Ferrari by 8.0% in the 3rd quarter. Blue Trust Inc. now owns 350 shares of the company’s stock worth $170,000 after buying an additional 26 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in Ferrari by 33.3% in the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company’s stock worth $50,000 after buying an additional 26 shares during the last quarter.

Ferrari Trading Up 4.6%

RACE opened at $372.88 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. The company’s 50 day simple moving average is $350.67 and its two-hundred day simple moving average is $373.83. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $519.10. The firm has a market capitalization of $87.23 billion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 3.37 and a beta of 1.00.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st will be given a dividend of $3.615 per share. The ex-dividend date is Tuesday, April 21st. This is a positive change from Ferrari’s previous annual dividend of $3.13. This represents a yield of 99.0%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RACE shares. JPMorgan Chase & Co. increased their target price on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. HSBC reaffirmed a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. UBS Group reduced their price objective on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Sanford C. Bernstein restated an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a report on Wednesday, February 11th. Finally, Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.