Ferrari (NYSE:RACE) Shares Bought by Yousif Capital Management LLC

Yousif Capital Management LLC grew its position in Ferrari (NYSE:RACE) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,420 shares of the company’s stock after acquiring an additional 220 shares during the period. Yousif Capital Management LLC’s holdings in Ferrari were worth $1,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jamison Private Wealth Management Inc. purchased a new stake in Ferrari in the 4th quarter valued at approximately $27,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after buying an additional 80 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 30 shares during the period. Allworth Financial LP boosted its stake in shares of Ferrari by 327.5% in the third quarter. Allworth Financial LP now owns 218 shares of the company’s stock valued at $64,000 after buying an additional 167 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Ferrari in the fourth quarter valued at approximately $78,000.

Ferrari Stock Up 1.3 %

Shares of RACE opened at $430.16 on Friday. Ferrari has a 1-year low of $283.20 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. The firm has a 50 day simple moving average of $421.97 and a 200-day simple moving average of $374.14.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Analysts anticipate that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. UBS Group increased their price objective on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Bank of America increased their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley reissued an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a report on Monday, April 22nd. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Finally, Sanford C. Bernstein lifted their price target on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. One equities 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $413.86.

Ferrari 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.