Cerity Partners LLC Acquires 1,854 Shares of Ferrari (NYSE:RACE)

Cerity Partners LLC lifted its holdings in shares of Ferrari (NYSE:RACE) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,525 shares of the company’s stock after purchasing an additional 1,854 shares during the quarter. Cerity Partners LLC’s holdings in Ferrari were worth $7,285,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RACE. Jamison Private Wealth Management Inc. bought a new position in shares of Ferrari during the fourth quarter worth approximately $27,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Ferrari during the second quarter worth approximately $33,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares during the period. Blue Trust Inc. increased its stake in Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the last quarter. Finally, State of Wyoming bought a new position in Ferrari in the fourth quarter valued at approximately $38,000.

Ferrari Trading Up 0.2 %

NYSE RACE opened at $411.09 on Tuesday. The firm’s fifty day moving average price is $414.74 and its two-hundred day moving average price is $364.69. Ferrari has a fifty-two week low of $272.70 and a fifty-two week high of $442.80. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. As a group, sell-side analysts forecast that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be paid a $2.443 dividend. The ex-dividend date is Monday, April 22nd. This represents a dividend yield of 0.62%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. UBS Group lifted their price objective on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Bank of America lifted their price objective on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $363.57.

About Ferrari

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.