Whittier Trust Co. of Nevada Inc. Buys 222 Shares of Ferrari (NYSE:RACE)

Whittier Trust Co. of Nevada Inc. grew its stake in Ferrari (NYSE:RACEFree Report) by 45.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 709 shares of the company’s stock after purchasing an additional 222 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Ferrari were worth $309,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Logan Capital Management Inc. lifted its stake in shares of Ferrari by 1.9% in the 4th quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock valued at $1,580,000 after purchasing an additional 87 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Ferrari by 1.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock valued at $1,437,000 after purchasing an additional 40 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Ferrari by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock valued at $1,312,614,000 after purchasing an additional 61,132 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Ferrari by 12.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after buying an additional 230 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Ferrari by 10.5% in the first quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock worth $116,225,000 after buying an additional 25,228 shares during the period.

Ferrari Price Performance

RACE traded up $3.48 during trading on Wednesday, hitting $429.77. 12,676 shares of the stock were exchanged, compared to its average volume of 276,642. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80. The firm has a 50 day simple moving average of $415.60 and a 200 day simple moving average of $399.98. Ferrari has a 1 year low of $285.02 and a 1 year high of $442.80.

Ferrari (NYSE:RACEGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.08. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. On average, analysts forecast that Ferrari will post 8.2 earnings per share for the current year.

Ferrari Dividend Announcement

The business also recently announced an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were given a dividend of $2.443 per share. The ex-dividend date was Monday, April 22nd. This represents a yield of 0.62%.

Analyst Upgrades and Downgrades

RACE has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a report on Monday, April 22nd. Evercore ISI increased their price target on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Bank of America increased their price target on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Sanford C. Bernstein increased their price target on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Jefferies Financial Group began coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $461.67.

Get Our Latest Stock Report on Ferrari

Ferrari Profile

(Free Report)

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.

Further Reading

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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