Simplicity Solutions LLC Has $564,000 Stock Holdings in Ferrari (NYSE:RACE)

Simplicity Solutions LLC grew its stake in Ferrari (NYSE:RACE) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,668 shares of the company’s stock after purchasing an additional 257 shares during the quarter. Simplicity Solutions LLC’s holdings in Ferrari were worth $564,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Ferrari by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock valued at $1,312,614,000 after purchasing an additional 61,132 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ferrari by 39.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,728,335 shares of the company’s stock valued at $468,275,000 after purchasing an additional 484,782 shares during the period. Norges Bank acquired a new stake in Ferrari during the 4th quarter worth $354,547,000. Bank of New York Mellon Corp raised its stake in Ferrari by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,635,501 shares of the company’s stock worth $483,356,000 after buying an additional 5,310 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Ferrari by 24.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,466,627 shares of the company’s stock worth $476,962,000 after buying an additional 284,169 shares during the period.

Ferrari Stock Performance

RACE opened at $412.52 on Friday. The business’s 50-day moving average price is $416.64 and its two-hundred day moving average price is $366.18. Ferrari has a 1 year low of $272.70 and a 1 year high of $442.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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 during 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%. On average, equities research analysts anticipate that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RACE. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Sanford C. Bernstein raised their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. UBS Group raised their price objective on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Bank of America lifted their price target on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Ferrari has an average rating of “Hold” and a consensus target price of $393.86.

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.