67,765 Shares in Ferrari (NYSE:RACE) Bought by Sapient Capital LLC

Sapient Capital LLC acquired a new position in shares of Ferrari (NYSE:RACE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 67,765 shares of the company’s stock, valued at approximately $22,849,000.

Other institutional investors have also made changes to their positions in the company. Jamison Private Wealth Management Inc. acquired a new stake in shares of Ferrari during the fourth quarter worth $27,000. Householder Group Estate & Retirement Specialist LLC grew its stake in Ferrari by 320.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after acquiring an additional 80 shares during the period. Blue Trust Inc. grew its stake in Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the period. Headlands Technologies LLC acquired a new position in Ferrari in the fourth quarter valued at about $43,000. Finally, Hexagon Capital Partners LLC grew its stake in Ferrari by 32.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 206 shares of the company’s stock valued at $70,000 after acquiring an additional 50 shares during the period.

Analyst Ratings Changes

A number of research analysts have issued reports on RACE shares. Morgan Stanley reissued an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a research note on Monday, April 22nd. Evercore ISI boosted their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday. UBS Group boosted their price target on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein boosted their price target on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $413.86.

Ferrari Price Performance

RACE traded up $5.73 on Friday, hitting $430.29. 288,971 shares of the company were exchanged, compared to its average volume of 232,041. Ferrari has a 12 month low of $283.20 and a 12 month high of $442.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The stock’s fifty day moving average is $422.25 and its 200-day moving average is $374.93.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.61 billion. As a group, research analysts forecast that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Announces Dividend

The business also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a dividend of $2.443 per share. The ex-dividend date of this dividend was Monday, April 22nd. This represents a yield of 0.62%.

About Ferrari

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.