Ferrari (NYSE:RACE) Position Increased by Henry James International Management Inc.

Henry James International Management Inc. raised its holdings in Ferrari (NYSE:RACE) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,850 shares of the company’s stock after acquiring an additional 785 shares during the period. Ferrari makes up 4.2% of Henry James International Management Inc.’s investment portfolio, making the stock its 2nd largest position. Henry James International Management Inc.’s holdings in Ferrari were worth $11,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Forte Capital LLC ADV increased its position in shares of Ferrari by 43.0% during the 4th quarter. Forte Capital LLC ADV now owns 1,048 shares of the company’s stock valued at $355,000 after purchasing an additional 315 shares during the last quarter. Sapient Capital LLC bought a new position in shares of Ferrari during the 4th quarter valued at about $22,849,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Ferrari by 241.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 341 shares of the company’s stock valued at $115,000 after purchasing an additional 241 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Ferrari by 79.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 855 shares of the company’s stock valued at $289,000 after purchasing an additional 378 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Ferrari by 12.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 2,904 shares of the company’s stock valued at $983,000 after purchasing an additional 312 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RACE. Sanford C. Bernstein raised their price target on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. UBS Group raised their price target on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. Bank of America raised their price target on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley restated an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $413.86.

Ferrari Stock Performance

NYSE RACE traded up $5.73 on Friday, hitting $430.29. The company’s stock had a trading volume of 288,971 shares, compared to its average volume of 232,041. Ferrari has a 52-week low of $283.20 and a 52-week high of $442.80. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. The company’s 50-day simple moving average is $422.25 and its 200 day simple moving average is $374.93.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, analysts expect that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were paid a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date was Monday, April 22nd.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.