Northern Trust Corp Has $39.74 Million Position in Ferrari NV (NYSE:RACE)

Northern Trust Corp increased its position in Ferrari NV (NYSE:RACE) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,639 shares of the company’s stock after acquiring an additional 7,493 shares during the period. Northern Trust Corp owned approximately 0.21% of Ferrari worth $39,740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $261,000. GSA Capital Partners LLP raised its holdings in Ferrari by 513.6% during the fourth quarter. GSA Capital Partners LLP now owns 17,781 shares of the company’s stock worth $1,768,000 after purchasing an additional 14,883 shares in the last quarter. Aviva PLC raised its holdings in Ferrari by 28.9% during the fourth quarter. Aviva PLC now owns 66,720 shares of the company’s stock worth $6,612,000 after purchasing an additional 14,953 shares in the last quarter. Parametrica Management Ltd bought a new stake in Ferrari during the fourth quarter worth approximately $288,000. Finally, Advisor Group Inc. raised its holdings in Ferrari by 8.1% during the fourth quarter. Advisor Group Inc. now owns 3,271 shares of the company’s stock worth $325,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 34.96% of the company’s stock.

Several brokerages recently commented on RACE. ValuEngine raised Ferrari from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of Ferrari from a “sell” rating to a “hold” rating and set a $146.00 price target on the stock in a research report on Saturday, February 2nd. Sanford C. Bernstein upgraded shares of Ferrari from an “underperform” rating to a “market perform” rating and set a $112.29 price objective on the stock in a research report on Tuesday, January 15th. Finally, Credit Suisse Group lowered their price objective on shares of Ferrari from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 28th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $133.66.

Shares of RACE traded down $1.54 during trading hours on Monday, reaching $137.03. 270,400 shares of the company traded hands, compared to its average volume of 375,882. The firm has a market capitalization of $26.18 billion, a P/E ratio of 34.09, a P/E/G ratio of 1.83 and a beta of 1.57. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.15 and a current ratio of 3.75. Ferrari NV has a 1-year low of $93.85 and a 1-year high of $149.85.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, January 31st. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.26. Ferrari had a net margin of 22.91% and a return on equity of 58.04%. The business had revenue of $964.27 million for the quarter, compared to analysts’ expectations of $967.04 million. As a group, equities analysts forecast that Ferrari NV will post 4.05 earnings per share for the current year.

The firm also recently disclosed an annual dividend, which will be paid on Thursday, May 2nd. Investors of record on Wednesday, April 24th will be issued a $1.1677 dividend. This is a positive change from Ferrari’s previous annual dividend of $0.88. This represents a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, April 23rd.

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Ferrari Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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