Clarius Group LLC Buys Shares of 695 Ferrari (NYSE:RACE)

Clarius Group LLC purchased a new position in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 695 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Ferrari by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after purchasing an additional 61,132 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ferrari by 39.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,728,335 shares of the company’s stock worth $468,275,000 after purchasing an additional 484,782 shares during the period. Norges Bank bought a new position in Ferrari during the 4th quarter worth about $354,547,000. Bank of New York Mellon Corp raised its stake in shares of Ferrari by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,635,501 shares of the company’s stock valued at $483,356,000 after purchasing an additional 5,310 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Ferrari by 24.0% in the second quarter. Alliancebernstein L.P. now owns 1,466,627 shares of the company’s stock valued at $476,962,000 after purchasing an additional 284,169 shares in the last quarter.

Ferrari Stock Performance

NYSE:RACE opened at $411.09 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. Ferrari has a 12-month low of $272.70 and a 12-month high of $442.80. The stock’s 50 day moving average price is $414.74 and its two-hundred day moving average price is $364.69.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. On average, equities research analysts predict that Ferrari will post 8.31 EPS for the current year.

Ferrari Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a dividend of $2.443 per share. The ex-dividend date is Monday, April 22nd. This represents a yield of 0.62%.

Analyst Ratings Changes

Several equities research analysts have commented on RACE shares. UBS Group boosted their target price on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Finally, Bank of America upped their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $363.57.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.