Forte Capital LLC ADV Boosts Stake in Ferrari (NYSE:RACE)

Forte Capital LLC ADV lifted its stake in shares of Ferrari (NYSE:RACE) by 43.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,048 shares of the company’s stock after purchasing an additional 315 shares during the period. Forte Capital LLC ADV’s holdings in Ferrari were worth $355,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Jamison Private Wealth Management Inc. purchased a new stake in shares of Ferrari during the 4th quarter worth approximately $27,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Ferrari by 320.0% in the 4th 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 period. Blue Trust Inc. boosted its holdings in Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the period. Headlands Technologies LLC bought a new position in Ferrari in the 4th quarter valued at $43,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Ferrari by 32.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 206 shares of the company’s stock valued at $70,000 after buying an additional 50 shares in the last quarter.

Ferrari Stock Performance

Shares of NYSE:RACE traded up $5.73 on Friday, reaching $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 50-day simple moving average of $421.97 and a 200 day simple moving average of $374.14. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91.

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

Ferrari Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. UBS Group boosted their price objective on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein upped their target price on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 target price on shares of Ferrari in a report on Monday, April 22nd. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $413.86.

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.