Axiom Investors LLC DE Has $9.47 Million Position in Ferrari (NYSE:RACE)

Axiom Investors LLC DE trimmed its position in shares of Ferrari (NYSE:RACE) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,971 shares of the company’s stock after selling 718 shares during the period. Axiom Investors LLC DE’s holdings in Ferrari were worth $9,466,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RACE. Vanguard Group Inc. lifted its holdings in shares of Ferrari by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after acquiring an additional 61,132 shares during the last quarter. Norges Bank bought a new position in shares of Ferrari in the fourth quarter worth about $572,523,000. Legal & General Group Plc lifted its holdings in shares of Ferrari by 8,986.8% in the third quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock worth $297,327,000 after acquiring an additional 993,044 shares during the last quarter. Alphinity Investment Management Pty Ltd lifted its holdings in shares of Ferrari by 73.7% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 924,662 shares of the company’s stock worth $311,740,000 after acquiring an additional 392,401 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Ferrari by 44.8% in the third quarter. Deutsche Bank AG now owns 591,378 shares of the company’s stock worth $174,776,000 after acquiring an additional 183,000 shares during the last quarter.

Ferrari Trading Up 0.5 %

Shares of RACE stock opened at $411.00 on Friday. Ferrari has a 52 week low of $283.20 and a 52 week high of $442.80. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $418.08 and a 200-day moving average of $388.55.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.04 by $0.08. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. Sell-side analysts predict that Ferrari will post 8.2 earnings per share for the current year.

Ferrari Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RACE shares. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group started coverage on shares of Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 price objective for the company. Evercore ISI raised their price objective on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Finally, UBS Group raised their price target on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ferrari presently has an average rating of “Hold” and a consensus price target of $456.67.

Ferrari Profile

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.