Ferrari N.V. $RACE Stock Holdings Lifted by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Ferrari N.V. (NYSE:RACEFree Report) by 1,265.5% during the third quarter, Holdings Channel reports. The fund owned 357,291 shares of the company’s stock after acquiring an additional 331,125 shares during the quarter. Franklin Resources Inc.’s holdings in Ferrari were worth $173,137,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. acquired a new position in Ferrari in the 3rd quarter worth approximately $27,000. Westside Investment Management Inc. raised its stake in Ferrari by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Ferrari in the third quarter valued at $28,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Ferrari in the second quarter valued at $30,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Ferrari in the second quarter worth $34,000.

Ferrari Stock Down 1.8%

RACE stock opened at $334.39 on Friday. 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 1 year low of $328.00 and a 1 year high of $519.10. The company has a fifty day simple moving average of $356.32 and a 200 day simple moving average of $399.30. The firm has a market cap of $78.23 billion, a PE ratio of 33.07, a PEG ratio of 3.33 and a beta of 0.97.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be issued a dividend of $3.615 per share. This represents a 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RACE shares. Barclays set a $420.00 price target on Ferrari and gave the company an “overweight” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. raised their price objective on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $410.00 target price on shares of Ferrari in a report on Wednesday, February 11th. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, The Goldman Sachs Group upgraded shares of Ferrari to a “strong-buy” rating in a report on Monday, November 24th. Three investment 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $475.61.

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Key Stories Impacting Ferrari

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Ferrari Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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