Ferrari N.V. $RACE Stock Position Cut by Banco Santander S.A.

Banco Santander S.A. cut its stake in shares of Ferrari N.V. (NYSE:RACE) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 578,124 shares of the company’s stock after selling 3,255 shares during the period. Ferrari comprises approximately 2.5% of Banco Santander S.A.’s holdings, making the stock its 6th largest position. Banco Santander S.A. owned approximately 0.24% of Ferrari worth $280,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. increased its holdings in Ferrari by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock valued at $299,000 after buying an additional 22 shares during the last quarter. Allworth Financial LP grew its position in shares of Ferrari by 7.5% during the 2nd quarter. Allworth Financial LP now owns 330 shares of the company’s stock valued at $162,000 after acquiring an additional 23 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Ferrari by 2.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,086 shares of the company’s stock worth $532,000 after purchasing an additional 23 shares in the last quarter. Certuity LLC raised its holdings in Ferrari by 4.5% in the 2nd quarter. Certuity LLC now owns 582 shares of the company’s stock worth $285,000 after purchasing an additional 25 shares during the period. Finally, Wealth Alliance LLC lifted its position in Ferrari by 2.0% during the third quarter. Wealth Alliance LLC now owns 1,251 shares of the company’s stock valued at $607,000 after purchasing an additional 25 shares in the last quarter.

Ferrari Trading Up 0.8%

Shares of RACE stock opened at $376.20 on Friday. The company has a market cap of $91.18 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 3.64 and a beta of 0.99. Ferrari N.V. has a 1 year low of $328.00 and a 1 year high of $519.10. The stock’s 50 day simple moving average is $360.36 and its two-hundred day simple moving average is $406.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38.

Ferrari Increases Dividend

The business also recently declared 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 is Tuesday, April 21st. This is a boost from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 99.0%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group raised Ferrari to a “strong-buy” rating in a research note on Monday, November 24th. Oddo Bhf lowered shares of Ferrari to a “neutral” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. HSBC reissued a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Finally, Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a research report on Thursday, February 12th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $476.52.

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.