Rheos Capital Works Inc. Buys 15,000 Shares of Ferrari N.V. $RACE

Rheos Capital Works Inc. boosted its stake in Ferrari N.V. (NYSE:RACE) by 7.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 230,200 shares of the company’s stock after buying an additional 15,000 shares during the period. Ferrari makes up 5.5% of Rheos Capital Works Inc.’s portfolio, making the stock its 2nd largest holding. Rheos Capital Works Inc. owned 0.09% of Ferrari worth $85,073,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Generali Asset Management SPA SGR grew its stake in Ferrari by 28.9% in the 3rd quarter. Generali Asset Management SPA SGR now owns 55,690 shares of the company’s stock valued at $27,022,000 after buying an additional 12,485 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Ferrari by 63.7% in the 3rd 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 buying an additional 1,039,234 shares during the last quarter. Alta Capital Management LLC acquired a new position in shares of Ferrari during the 3rd quarter worth approximately $6,391,000. Teacher Retirement System of Texas acquired a new position in shares of Ferrari during the 3rd quarter worth approximately $8,995,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Ferrari by 45.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,587 shares of the company’s stock worth $4,656,000 after purchasing an additional 2,991 shares in the last quarter.

Ferrari Stock Performance

Shares of Ferrari stock opened at $338.39 on Tuesday. The company has a 50 day moving average of $347.19 and a 200-day moving average of $380.24. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $519.10. The company has a current ratio of 5.70, a quick ratio of 4.38 and a debt-to-equity ratio of 0.74. The company has a market cap of $79.17 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be issued a dividend of $3.615 per share. This is a boost from Ferrari’s previous annual dividend of $3.13. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a dividend yield of 99.0%.

Analysts Set New Price Targets

RACE has been the topic of a number of analyst reports. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Morgan Stanley set a $420.00 target price on shares of Ferrari in a research report on Monday, February 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Ferrari in a research report on Monday, December 29th. UBS Group decreased their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research report on Wednesday, February 11th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $469.06.

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.