Temasek Holdings Private Ltd Trims Stake in Ferrari (NYSE:RACE)

Temasek Holdings Private Ltd lowered its position in Ferrari (NYSE:RACE) by 84.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,478 shares of the company’s stock after selling 78,693 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Ferrari were worth $6,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hanson & Doremus Investment Management bought a new position in Ferrari in the 4th quarter worth about $26,000. Kestra Investment Management LLC bought a new position in shares of Ferrari in the fourth quarter worth approximately $45,000. Plato Investment Management Ltd purchased a new stake in Ferrari in the fourth quarter valued at approximately $53,000. Newbridge Financial Services Group Inc. raised its stake in Ferrari by 705.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock valued at $58,000 after purchasing an additional 120 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its stake in Ferrari by 53.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 144 shares of the company’s stock worth $61,000 after buying an additional 50 shares in the last quarter.

Ferrari Trading Up 0.8%

Shares of RACE opened at $498.99 on Friday. The firm has a fifty day simple moving average of $447.01 and a two-hundred day simple moving average of $447.04. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The stock has a market capitalization of $120.94 billion, a P/E ratio of 54.53, a PEG ratio of 4.43 and a beta of 1.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. Ferrari’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 EPS. On average, research analysts anticipate that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd were given a dividend of $3.1265 per share. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 23rd. Ferrari’s payout ratio is presently 5.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RACE. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday. UBS Group increased their price objective on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. Finally, Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $526.25.

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.