BNP Paribas Financial Markets Reduces Stock Holdings in Ferrari (NYSE:RACE)

BNP Paribas Financial Markets reduced its stake in Ferrari (NYSE:RACEFree Report) by 64.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,801 shares of the company’s stock after selling 40,074 shares during the period. BNP Paribas Financial Markets’ holdings in Ferrari were worth $9,504,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of 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. Sequoia Financial Advisors LLC boosted its holdings in shares of Ferrari by 0.7% in the first quarter. Sequoia Financial Advisors LLC now owns 4,277 shares of the company’s stock valued at $1,865,000 after acquiring an additional 30 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Ferrari by 16.0% in the first quarter. Hexagon Capital Partners LLC now owns 239 shares of the company’s stock valued at $104,000 after acquiring an additional 33 shares during the period. Kolinsky Wealth Management LLC boosted its holdings in shares of Ferrari by 2.2% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,704 shares of the company’s stock valued at $577,000 after acquiring an additional 36 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Ferrari by 17.0% in the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock valued at $86,000 after acquiring an additional 37 shares during the period.

Wall Street Analysts Forecast Growth

RACE has been the subject of several recent research reports. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Evercore ISI increased their price target on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. UBS Group increased their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Sanford C. Bernstein increased their price target on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $461.67.

View Our Latest Research Report on Ferrari

Ferrari Trading Down 0.3 %

Ferrari stock opened at $426.29 on Wednesday. Ferrari has a one year low of $285.02 and a one year high of $442.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25. The business has a fifty day moving average of $415.60 and a two-hundred day moving average of $399.98.

Ferrari (NYSE:RACEGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Research analysts forecast that Ferrari will post 8.2 EPS for the current fiscal year.

Ferrari Announces Dividend

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

About Ferrari

(Free Report)

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.

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