Baskin Financial Services Inc. Raises Stock Holdings in Ferrari N.V. $RACE

Baskin Financial Services Inc. raised its position in Ferrari N.V. (NYSE:RACE) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,836 shares of the company’s stock after buying an additional 1,479 shares during the quarter. Ferrari makes up approximately 3.1% of Baskin Financial Services Inc.’s portfolio, making the stock its 15th biggest position. Baskin Financial Services Inc.’s holdings in Ferrari were worth $41,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in Ferrari in the third quarter valued at approximately $27,000. Westside Investment Management Inc. lifted its stake in Ferrari by 100.0% in the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after buying an additional 28 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Ferrari in the third quarter valued at approximately $28,000. Community Bank N.A. purchased a new stake in Ferrari in the third quarter valued at approximately $33,000. Finally, CX Institutional lifted its stake in Ferrari by 227.3% in the third quarter. CX Institutional now owns 72 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the last quarter.

Wall Street Analyst Weigh In

RACE has been the subject of a number of research reports. HSBC reiterated a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a research note on Wednesday, February 11th. Finally, Morgan Stanley set a $420.00 price objective on Ferrari in a research note on Monday, February 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Trading Up 4.6%

NYSE:RACE opened at $372.88 on Friday. The firm has a market cap of $87.23 billion, a P/E ratio of 36.88, a PEG ratio of 3.37 and a beta of 1.00. The company has a current ratio of 5.70, a quick ratio of 4.38 and a debt-to-equity ratio of 0.74. The stock’s 50 day simple moving average is $350.67 and its 200-day simple moving average is $373.06. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $519.10.

Ferrari Increases Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, April 21st. This is an increase from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 99.0%.

Ferrari Company 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.