Flossbach Von Storch SE Purchases 1,607 Shares of Ferrari N.V. $RACE

by · The Cerbat Gem

Flossbach Von Storch SE raised its holdings in shares of Ferrari N.V. (NYSE:RACE – Free Report) by 1.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 84,713 shares of the company’s stock after acquiring an additional 1,607 shares during the quarter. Flossbach Von Storch SE’s holdings in Ferrari were worth $31,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 1,039,234 shares during the period. Groupama Asset Managment lifted its stake in shares of Ferrari by 5.7% during the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after buying an additional 916,821 shares in the last quarter. Ninety One UK Ltd bought a new position in Ferrari in the 4th quarter worth approximately $338,785,000. Viking Global Investors LP boosted its holdings in Ferrari by 432.7% in the 2nd quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after buying an additional 585,872 shares during the period. Finally, Credit Agricole S A purchased a new position in Ferrari in the 3rd quarter valued at approximately $279,003,000.

Ferrari Stock Performance

NYSE RACE opened at $347.50 on Tuesday. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10. 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 has a market capitalization of $81.30 billion, a PE ratio of 34.37, a P/E/G ratio of 3.33 and a beta of 1.00. The company’s 50 day simple moving average is $348.92 and its two-hundred day simple moving average is $367.11.

Ferrari Increases Dividend

The company 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 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 119.0%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RACE shares. Sanford C. Bernstein reissued an “outperform” rating and set a $410.00 target price on shares of Ferrari in a report on Wednesday, February 11th. Morgan Stanley set a $420.00 price target on Ferrari in a research report on Monday, February 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. HSBC reissued a “hold” rating on shares of Ferrari in a report on Tuesday, January 13th. Finally, Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Read Our Latest Research Report on Ferrari

Ferrari Profile

(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.

See Also

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