Stableford Capital II LLC Takes $676,000 Position in Ferrari N.V. $RACE

Stableford Capital II LLC bought a new position in Ferrari N.V. (NYSE:RACE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,828 shares of the company’s stock, valued at approximately $676,000.

Other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment boosted its position in Ferrari by 5.7% during the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after buying an additional 916,821 shares during the period. Vanguard Group Inc. grew its holdings in Ferrari by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,154,944 shares of the company’s stock worth $2,498,710,000 after acquiring an additional 81,017 shares during the last quarter. Amundi increased its position in shares of Ferrari by 8.0% in the third quarter. Amundi now owns 2,972,368 shares of the company’s stock valued at $1,461,008,000 after acquiring an additional 219,909 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Ferrari by 63.7% during the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock valued at $1,295,907,000 after acquiring an additional 1,039,234 shares during the last quarter. Finally, Bank of Italy raised its stake in shares of Ferrari by 2.3% during the third quarter. Bank of Italy now owns 2,462,771 shares of the company’s stock valued at $1,190,158,000 after acquiring an additional 55,500 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley set a $420.00 target price on Ferrari in a research note on Monday, February 16th. Barclays set a $420.00 price target on shares of Ferrari and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Jefferies Financial Group restated a “hold” rating on shares of Ferrari in a report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their price target on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average target price of $475.61.

Ferrari Stock Performance

RACE stock opened at $322.84 on Friday. The company has a market cap of $75.53 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10. The stock’s fifty day moving average price is $348.00 and its 200-day moving average price is $388.56.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be paid a dividend of $3.615 per share. This represents a yield of 99.0%. The ex-dividend date is Tuesday, April 21st. This is a positive change from Ferrari’s previous annual dividend of $3.13.

Ferrari Company 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.