Dnca Finance Trims Stake in Ferrari N.V. $RACE

Dnca Finance reduced its position in Ferrari N.V. (NYSE:RACE) by 45.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,219 shares of the company’s stock after selling 59,216 shares during the period. Ferrari accounts for 2.4% of Dnca Finance’s portfolio, making the stock its 14th biggest position. Dnca Finance’s holdings in Ferrari were worth $34,444,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Groupama Asset Managment raised its holdings in shares of Ferrari by 24,598.5% in the 2nd quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock valued at $7,888,057,000 after purchasing an additional 16,008,720 shares in the last quarter. Norges Bank purchased a new stake in shares of Ferrari in the 2nd quarter worth approximately $885,051,000. Bank of New York Mellon Corp boosted its stake in shares of Ferrari by 63.7% during the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock valued at $1,295,907,000 after purchasing an additional 1,039,234 shares in the last quarter. Viking Global Investors LP boosted its stake in shares of Ferrari by 432.7% during the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock valued at $353,526,000 after purchasing an additional 585,872 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Ferrari by 707.2% during the third quarter. Wellington Management Group LLP now owns 536,486 shares of the company’s stock valued at $259,564,000 after buying an additional 470,026 shares during the period.

Ferrari Stock Down 0.6%

RACE stock opened at $332.56 on Friday. The company has a market capitalization of $77.80 billion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. Ferrari N.V. has a 12 month low of $328.00 and a 12 month high of $519.10. The firm’s fifty day simple moving average is $355.52 and its 200-day simple moving average is $398.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be given a $3.615 dividend. This represents a dividend yield of 99.0%. This is an increase from Ferrari’s previous annual dividend of $3.13. The ex-dividend date is Tuesday, April 21st.

More Ferrari News

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari will debut a rotating “Macarena” rear wing in China, showing aggressive aero innovation that could improve race pace if effective. Article Title
• Positive Sentiment: Multiple outlets report Ferrari experimenting with new winglets (including a halo winglet) in China — continued on-track development may provide performance upside later in the season. Article Title
• Positive Sentiment: F1 coverage includes lifestyle/brand pieces (a day in the life of a Ferrari racing driver, Leclerc features) that support Ferrari’s premium brand and fan engagement. Article Title
• Neutral Sentiment: Ferrari is sharing technical info with customer team Haas; this collaboration manages relationships but raises questions about competitive leverage. Article Title
• Neutral Sentiment: Debate continues in media and among drivers about the Ferrari vs Mercedes dynamic — mixed commentary from Hamilton and Russell frames uncertain competitive outlook. Article Title
• Negative Sentiment: High-profile criticism: Lewis Hamilton and others say Ferrari is losing significant time to Mercedes due to engine/power-unit disadvantage — a direct hit to race-winning prospects. Article Title
• Negative Sentiment: Calls from rivals and media for Ferrari to close the PU deficit increase pressure on technical and management teams; investors may worry about costly development needs or short-term underperformance. Article Title
• Negative Sentiment: Race execution questioned after Australian GP strategy reviews and comments that Ferrari’s calls “robbed” them of a better result — operational miscues can depress short-term results and sentiment. Article Title
• Negative Sentiment: Drivers and pundits accuse Ferrari of obstructing rule-change talks and failing to learn from rivals’ mistakes — governance/PR friction could weigh on brand and on-track cooperation. Article Title

Analysts Set New Price Targets

Several research firms have recently commented on RACE. Oddo Bhf lowered Ferrari to a “neutral” rating in a research report on Wednesday, December 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $410.00 price objective on shares of Ferrari in a research report on Wednesday, February 11th. Barclays set a $420.00 target price on Ferrari and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ferrari in a research report on Monday, December 29th. Finally, Loop Capital set a $481.67 price target on shares of Ferrari in a report on Thursday, December 4th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $475.61.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.