Quantbot Technologies LP Has $1.81 Million Stock Holdings in Ferrari N.V. $RACE

Quantbot Technologies LP lessened its holdings in shares of Ferrari N.V. (NYSE:RACE) by 43.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,737 shares of the company’s stock after selling 2,882 shares during the quarter. Quantbot Technologies LP’s holdings in Ferrari were worth $1,813,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Groupama Asset Managment grew its stake in shares of Ferrari by 24,598.5% in the second quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock valued at $7,888,057,000 after acquiring an additional 16,008,720 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ferrari by 1.6% in the third quarter. Vanguard Group Inc. now owns 5,154,944 shares of the company’s stock worth $2,498,710,000 after acquiring an additional 81,017 shares during the last quarter. Bank of New York Mellon Corp lifted 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 purchasing an additional 1,039,234 shares during the last quarter. Bank of Italy lifted its stake in shares of Ferrari by 2.3% in the 3rd quarter. Bank of Italy now owns 2,462,771 shares of the company’s stock valued at $1,190,158,000 after acquiring an additional 55,500 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Ferrari by 5.6% during the second quarter. Alliancebernstein L.P. now owns 1,866,558 shares of the company’s stock valued at $915,995,000 after purchasing an additional 99,221 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RACE shares. JPMorgan Chase & Co. upped their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research note on Tuesday. Oddo Bhf downgraded Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Wednesday, February 11th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $410.00 target price on shares of Ferrari in a research report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $475.61.

Ferrari Stock Up 1.1%

RACE opened at $364.95 on Thursday. The company has a current ratio of 5.70, a quick ratio of 4.38 and a debt-to-equity ratio of 0.74. Ferrari N.V. has a 12 month low of $328.00 and a 12 month high of $519.10. The business’s 50-day moving average price is $359.62 and its 200-day moving average price is $403.95. The company has a market cap of $85.38 billion, a P/E ratio of 36.09, a P/E/G ratio of 3.52 and a beta of 0.97.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be issued a $3.615 dividend. This represents a yield of 99.0%. This is a boost from Ferrari’s previous annual dividend of $3.13. The ex-dividend date is Tuesday, April 21st. Ferrari’s dividend payout ratio (DPR) is 5.09%.

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.