Rheos Capital Works Inc. Has $85.07 Million Stock Position in Ferrari N.V. $RACE

Rheos Capital Works Inc. lifted its position in shares of Ferrari N.V. (NYSE:RACE) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,200 shares of the company’s stock after acquiring an additional 15,000 shares during the period. Ferrari makes up about 5.5% of Rheos Capital Works Inc.’s portfolio, making the stock its 2nd largest holding. Rheos Capital Works Inc.’s holdings in Ferrari were worth $85,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. lifted its holdings in shares of Ferrari by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after acquiring an additional 22 shares during the period. Valeo Financial Advisors LLC lifted its stake in Ferrari by 2.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,086 shares of the company’s stock valued at $532,000 after purchasing an additional 23 shares during the last quarter. Certuity LLC lifted its stake in Ferrari by 4.5% in the 2nd quarter. Certuity LLC now owns 582 shares of the company’s stock valued at $285,000 after purchasing an additional 25 shares during the last quarter. Wealth Alliance LLC lifted its stake in Ferrari by 2.0% in the 3rd quarter. Wealth Alliance LLC now owns 1,251 shares of the company’s stock valued at $607,000 after purchasing an additional 25 shares during the last quarter. Finally, Pacific Sun Financial Corp lifted its stake in Ferrari by 2.5% in the 3rd quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after purchasing an additional 25 shares during the last quarter.

Wall Street Analysts Forecast Growth

RACE has been the subject of several research reports. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Ferrari in a research note on Monday, December 29th. Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Sanford C. Bernstein reissued an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a research note on Wednesday, February 11th. Finally, HSBC reissued a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $469.06.

Ferrari Price Performance

RACE stock opened at $338.39 on Tuesday. The company has a fifty day moving average price of $347.19 and a 200-day moving average price of $380.24. The company has a market capitalization of $79.17 billion, a P/E ratio of 33.47, a PEG ratio of 3.21 and a beta of 1.00. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.38 and a current ratio of 5.70.

Ferrari Increases Dividend

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

About Ferrari

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.