AustralianSuper Pty Ltd Grows Stake in Ferrari N.V. $RACE

AustralianSuper Pty Ltd raised its stake in Ferrari N.V. (NYSE:RACE) by 124.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,991 shares of the company’s stock after acquiring an additional 40,500 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Ferrari were worth $27,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after purchasing an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ferrari by 31.1% during 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 during the period. Woodline Partners LP bought a new position in Ferrari during the first quarter valued at $1,519,000. Sivia Capital Partners LLC grew its holdings in Ferrari by 67.5% during the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock valued at $448,000 after purchasing an additional 368 shares during the period. Finally, Rhumbline Advisers grew its holdings in Ferrari by 7.5% during the second quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock valued at $672,000 after purchasing an additional 96 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $420.00 price objective on Ferrari in a report on Monday, February 16th. Sanford C. Bernstein reissued an “outperform” rating and issued a $410.00 price target on shares of Ferrari in a research report on Wednesday, February 11th. UBS Group lowered their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. increased their target price on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus target price of $469.06.

Ferrari Stock Down 3.2%

Shares of NYSE RACE opened at $321.47 on Friday. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The business has a 50-day simple moving average of $340.63 and a two-hundred day simple moving average of $362.21. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The company has a market cap of $75.21 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.17 and a beta of 0.95.

Ferrari Increases Dividend

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

Ferrari 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.