LPL Financial LLC Increases Holdings in Ferrari NV (RACE)

LPL Financial LLC raised its position in shares of Ferrari NV (NYSE:RACE) by 8.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,658 shares of the company’s stock after purchasing an additional 270 shares during the quarter. LPL Financial LLC’s holdings in Ferrari were worth $364,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Ferrari by 2.1% during the third quarter. Vanguard Group Inc. now owns 3,547,789 shares of the company’s stock valued at $485,729,000 after purchasing an additional 71,965 shares in the last quarter. Vanguard Group Inc raised its position in shares of Ferrari by 2.1% during the third quarter. Vanguard Group Inc now owns 3,547,789 shares of the company’s stock valued at $485,729,000 after buying an additional 71,965 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Ferrari by 23.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,402,871 shares of the company’s stock valued at $337,545,000 after buying an additional 647,066 shares during the last quarter. Capital World Investors raised its position in shares of Ferrari by 11.0% during the third quarter. Capital World Investors now owns 793,561 shares of the company’s stock valued at $109,274,000 after buying an additional 78,721 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Ferrari by 939.8% during the third quarter. Marshall Wace LLP now owns 679,898 shares of the company’s stock valued at $93,563,000 after buying an additional 614,513 shares during the last quarter. Institutional investors and hedge funds own 34.96% of the company’s stock.

Several equities research analysts recently weighed in on RACE shares. ValuEngine cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Zacks Investment Research upgraded shares of Ferrari from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Sanford C. Bernstein upgraded shares of Ferrari from an “underperform” rating to a “market perform” rating and set a $112.29 price target on the stock in a research report on Tuesday, January 15th. Finally, Credit Suisse Group cut 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 stock currently has a consensus rating of “Hold” and a consensus target price of $133.66.

NYSE:RACE traded up $2.22 during mid-day trading on Friday, reaching $139.91. The company’s stock had a trading volume of 534,886 shares, compared to its average volume of 336,104. Ferrari NV has a 1 year low of $93.85 and a 1 year high of $149.85. The firm has a market cap of $26.44 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 1.87 and a beta of 1.57. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.75 and a quick ratio of 3.15.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, January 31st. The company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.26. The company had revenue of $964.27 million during the quarter, compared to analyst estimates of $967.04 million. Ferrari had a net margin of 22.91% and a return on equity of 58.04%. Sell-side analysts anticipate that Ferrari NV will post 4.05 EPS for the current fiscal year.

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

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Ferrari Company 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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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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