Hexagon Capital Partners LLC Grows Stake in Ferrari (NYSE:RACE)

Hexagon Capital Partners LLC grew its holdings in Ferrari (NYSE:RACE) by 32.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206 shares of the company’s stock after purchasing an additional 50 shares during the period. Hexagon Capital Partners LLC’s holdings in Ferrari were worth $70,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RACE. Legal & General Group Plc boosted its position in Ferrari by 8,986.8% during the 3rd quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock valued at $297,327,000 after buying an additional 993,044 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in Ferrari during the 3rd quarter valued at $157,620,000. International Assets Investment Management LLC purchased a new stake in Ferrari during the 4th quarter valued at $162,296,000. Mackenzie Financial Corp boosted its position in Ferrari by 172.8% during the 4th quarter. Mackenzie Financial Corp now owns 329,927 shares of the company’s stock valued at $111,508,000 after buying an additional 208,966 shares during the period. Finally, Banco Santander S.A. boosted its position in Ferrari by 68.7% during the 3rd quarter. Banco Santander S.A. now owns 452,217 shares of the company’s stock valued at $133,840,000 after buying an additional 184,078 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on RACE shares. UBS Group increased their price target on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday. 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. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ferrari presently has an average rating of “Hold” and a consensus price target of $413.86.

Ferrari Price Performance

RACE stock opened at $424.99 on Friday. Ferrari has a 12-month low of $277.46 and a 12-month high of $442.80. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $421.97 and its 200 day simple moving average is $374.14.

Ferrari (NYSE:RACE) last released its quarterly earnings data 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. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. Research analysts expect that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

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

Ferrari Company 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.