5,330 Shares in Ferrari N.V. $RACE Bought by Baer Investment Advisory LLC

Baer Investment Advisory LLC acquired a new stake in Ferrari N.V. (NYSE:RACE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,330 shares of the company’s stock, valued at approximately $1,970,000. Ferrari makes up about 1.9% of Baer Investment Advisory LLC’s portfolio, making the stock its 23rd largest position.

Several other large investors also recently bought and sold shares of the stock. Groupama Asset Managment boosted its stake in Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after acquiring an additional 916,821 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ferrari by 1.6% in the third quarter. Vanguard Group Inc. now owns 5,154,944 shares of the company’s stock valued at $2,498,710,000 after acquiring an additional 81,017 shares in the last quarter. Amundi boosted its stake in Ferrari by 8.0% in the third quarter. Amundi now owns 2,972,368 shares of the company’s stock valued at $1,461,008,000 after acquiring an additional 219,909 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Ferrari by 63.7% in the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock valued at $1,295,907,000 after acquiring an additional 1,039,234 shares in the last quarter. Finally, Bank of Italy boosted its stake in Ferrari by 2.3% in the third quarter. Bank of Italy now owns 2,462,771 shares of the company’s stock valued at $1,190,158,000 after acquiring an additional 55,500 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group reduced their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. BNP Paribas Exane upgraded shares of Ferrari to a “strong-buy” rating in a research note on Thursday, December 11th. Sanford C. Bernstein reiterated an “outperform” rating and set a $410.00 price target on shares of Ferrari in a research note on Wednesday, February 11th. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Price Performance

Shares of RACE opened at $334.46 on Wednesday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10. The company has a market capitalization of $78.25 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. The firm has a 50-day simple moving average of $347.14 and a 200-day simple moving average of $379.22. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.38 and a current ratio of 5.70.

Ferrari Increases Dividend

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

Ferrari Profile

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.