Barclays PLC Sells 149,492 Shares of Ferrari N.V. $RACE

Barclays PLC trimmed its holdings in shares of Ferrari N.V. (NYSE:RACEFree Report) by 22.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 522,932 shares of the company’s stock after selling 149,492 shares during the quarter. Barclays PLC owned about 0.22% of Ferrari worth $253,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RACE. Consolidated Portfolio Review Corp bought a new stake in shares of Ferrari during the 3rd quarter valued at about $436,000. Perennial Investment Advisors LLC grew its holdings in shares of Ferrari by 10.9% during the third quarter. Perennial Investment Advisors LLC now owns 1,259 shares of the company’s stock worth $611,000 after purchasing an additional 124 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Ferrari by 0.8% in the third quarter. Crossmark Global Holdings Inc. now owns 4,442 shares of the company’s stock worth $2,155,000 after purchasing an additional 34 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ferrari by 6.3% in the third quarter. Dimensional Fund Advisors LP now owns 198,543 shares of the company’s stock worth $96,333,000 after purchasing an additional 11,738 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its stake in Ferrari by 3.3% in the third quarter. Insigneo Advisory Services LLC now owns 1,356 shares of the company’s stock valued at $656,000 after purchasing an additional 43 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RACE shares. HSBC reissued a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Barclays set a $420.00 price objective on shares of Ferrari and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Morgan Stanley set a $420.00 target price on Ferrari in a research note on Monday, February 16th. JPMorgan Chase & Co. raised their price target on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ferrari in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $475.61.

Check Out Our Latest Report on Ferrari

Ferrari Price Performance

RACE opened at $350.10 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. The stock’s 50 day simple moving average is $358.69 and its 200 day simple moving average is $402.84. The firm has a market cap of $81.91 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 3.49 and a beta of 0.97. Ferrari N.V. has a 1 year low of $328.00 and a 1 year high of $519.10.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be issued a $3.615 dividend. This is a positive change from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 99.0%. The ex-dividend date is Tuesday, April 21st.

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About Ferrari

(Free Report)

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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