Thrivent Financial for Lutherans Has $17.03 Million Holdings in Ferrari N.V. $RACE

Thrivent Financial for Lutherans reduced its holdings in Ferrari N.V. (NYSE:RACE) by 48.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,507 shares of the company’s stock after selling 42,736 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ferrari were worth $17,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after purchasing an additional 1,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ferrari by 31.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after purchasing an additional 46 shares in the last quarter. Woodline Partners LP bought a new position in Ferrari in the 1st quarter worth approximately $1,519,000. Sivia Capital Partners LLC lifted its holdings in Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after buying an additional 368 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after buying an additional 96 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $324.68 on Tuesday. The firm has a market cap of $75.96 billion, a P/E ratio of 31.16, a PEG ratio of 3.07 and a beta of 0.95. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The firm’s 50 day moving average price is $339.98 and its two-hundred day moving average price is $361.35.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st were paid a $3.615 dividend. This represents a yield of 119.0%. The ex-dividend date was Tuesday, April 21st. This is an increase from Ferrari’s previous annual dividend of $3.13.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Citigroup raised shares of Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Company Profile

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.