Syon Capital LLC Boosts Stake in Ferrari (NYSE:RACE)

Syon Capital LLC raised its position in shares of Ferrari (NYSE:RACE) by 54.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,070 shares of the company’s stock after buying an additional 376 shares during the quarter. Syon Capital LLC’s holdings in Ferrari were worth $362,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RACE. Vanguard Group Inc. increased its holdings in Ferrari by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after buying an additional 61,132 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ferrari by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,635,501 shares of the company’s stock worth $483,356,000 after acquiring an additional 5,310 shares during the period. Legal & General Group Plc raised its holdings in shares of Ferrari by 8,986.8% during the third quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock valued at $297,327,000 after purchasing an additional 993,044 shares during the last quarter. Alphinity Investment Management Pty Ltd lifted its position in Ferrari by 73.7% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 924,662 shares of the company’s stock valued at $311,740,000 after purchasing an additional 392,401 shares during the period. Finally, Deutsche Bank AG boosted its holdings in 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 purchasing an additional 183,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Sanford C. Bernstein upped their price target on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Bank of America upped their target price on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Evercore ISI boosted their price objective on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. One investment 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.com, the stock presently has an average rating of “Hold” and an average target price of $413.86.

Ferrari Trading Up 2.5 %

Shares of NYSE:RACE opened at $422.46 on Friday. The company’s 50 day moving average is $420.26 and its 200 day moving average is $371.52. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a twelve month low of $273.39 and a twelve month high of $442.80.

Ferrari (NYSE:RACE) last announced its quarterly earnings results 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. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. Analysts expect that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Dividend Announcement

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

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.