Ferrari (NYSE:RACE) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC lifted its stake in shares of Ferrari (NYSE:RACE) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 508 shares of the company’s stock after buying an additional 38 shares during the period. Lindbrook Capital LLC’s holdings in Ferrari were worth $172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Calamos Wealth Management LLC lifted its position in Ferrari by 30.6% during the fourth quarter. Calamos Wealth Management LLC now owns 5,853 shares of the company’s stock valued at $1,981,000 after purchasing an additional 1,371 shares during the period. Geneva Partners LLC purchased a new position in Ferrari in the fourth quarter valued at $345,000. Federated Hermes Inc. increased its holdings in Ferrari by 55,090.5% in the fourth quarter. Federated Hermes Inc. now owns 23,180 shares of the company’s stock valued at $7,813,000 after buying an additional 23,138 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Ferrari during the fourth quarter worth about $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ferrari by 12.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,636 shares of the company’s stock worth $24,488,000 after purchasing an additional 8,212 shares in the last quarter.

Ferrari Trading Up 3.5 %

Shares of NYSE RACE opened at $424.61 on Wednesday. Ferrari has a 12-month low of $273.39 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 company has a 50-day moving average of $418.37 and a 200 day moving average of $369.56.

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

Ferrari Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Sanford C. Bernstein boosted their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Morgan Stanley reissued an “overweight” rating and set a $400.00 target price on shares of Ferrari in a research note on Monday. Evercore ISI boosted their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $413.86.

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.