Fox Hill Wealth Management Acquires 462 Shares of Ferrari (NYSE:RACE)

Fox Hill Wealth Management lifted its position in shares of Ferrari (NYSE:RACE) by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,396 shares of the company’s stock after acquiring an additional 462 shares during the period. Fox Hill Wealth Management’s holdings in Ferrari were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. acquired a new position in Ferrari during the 4th quarter worth approximately $27,000. Register Financial Advisors LLC bought a new position in Ferrari during the first quarter worth $33,000. Householder Group Estate & Retirement Specialist LLC raised its stake in Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after buying an additional 80 shares during the last quarter. Blue Trust Inc. raised its stake in Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Ferrari during the fourth quarter worth $43,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RACE shares. Morgan Stanley reissued an “overweight” rating and set a $400.00 target price on shares of Ferrari in a research note on Monday, April 22nd. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Sanford C. Bernstein raised their price target on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Evercore ISI raised their price target on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Stock Down 0.3 %

Ferrari stock traded down $1.09 during midday trading on Friday, hitting $408.37. 246,757 shares of the stock were exchanged, compared to its average volume of 210,987. Ferrari has a 52-week low of $285.02 and a 52-week high of $442.80. The business’s 50-day moving average price is $415.26 and its 200-day moving average price is $396.12. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80.

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

Ferrari Announces Dividend

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

Ferrari Company 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.