Ferrari (NYSE:RACE) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its stake in shares of Ferrari (NYSE:RACE) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,146 shares of the company’s stock after purchasing an additional 242 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Ferrari were worth $1,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AXQ Capital LP purchased a new stake in shares of Ferrari in the 3rd quarter worth about $205,000. Lido Advisors LLC boosted its position in shares of Ferrari by 29.3% in the 3rd quarter. Lido Advisors LLC now owns 945 shares of the company’s stock worth $279,000 after buying an additional 214 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Ferrari by 8,986.8% in the 3rd quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock worth $297,327,000 after buying an additional 993,044 shares in the last quarter. Scopus Asset Management L.P. purchased a new stake in shares of Ferrari in the 3rd quarter worth about $8,571,000. Finally, Royal London Asset Management Ltd. boosted its position in shares of Ferrari by 9.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 39,763 shares of the company’s stock worth $11,752,000 after buying an additional 3,345 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on RACE. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. UBS Group upped their target price on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. Jefferies Financial Group began coverage on shares of Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 target price on the stock. Evercore ISI upped their target price 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, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Ferrari has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Trading Up 2.0 %

Shares of RACE stock traded up $8.34 during trading hours on Thursday, hitting $422.72. 198,243 shares of the company were exchanged, compared to its average volume of 218,404. The firm has a market cap of $78.10 billion, a PE ratio of 53.99, a PEG ratio of 5.02 and a beta of 0.99. Ferrari has a 1 year low of $285.02 and a 1 year 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 fifty day moving average of $415.09 and a 200 day moving average of $397.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. Analysts expect that Ferrari will post 8.2 earnings per share for the current year.

Ferrari Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were issued a dividend of $2.443 per share. The ex-dividend date was Monday, April 22nd. This represents a dividend yield of 0.62%. Ferrari’s payout ratio is currently 6.58%.

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.