Bank of New York Mellon Corp Raises Stock Position in Ferrari N.V. $RACE

Bank of New York Mellon Corp raised its position in Ferrari N.V. (NYSE:RACE) by 63.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,670,762 shares of the company’s stock after acquiring an additional 1,039,234 shares during the period. Bank of New York Mellon Corp’s holdings in Ferrari were worth $1,295,907,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Ferrari by 78.9% during the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after buying an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ferrari by 31.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after purchasing an additional 46 shares during the period. Woodline Partners LP purchased a new stake in Ferrari in the first quarter valued at $1,519,000. Sivia Capital Partners LLC lifted its stake in shares of Ferrari by 67.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock valued at $448,000 after purchasing an additional 368 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares during the period.

Ferrari Price Performance

Ferrari stock opened at $337.26 on Wednesday. The firm has a market cap of $81.75 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 3.67 and a beta of 1.01. Ferrari N.V. has a 52-week low of $333.34 and a 52-week high of $519.10. The company has a quick ratio of 3.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $370.45 and its two-hundred day moving average is $424.99.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.35 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. Ferrari has set its FY 2025 guidance at 10.290- EPS. On average, research analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on RACE shares. JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Oddo Bhf downgraded shares of Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Citigroup decreased their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $395.00 target price on shares of Ferrari in a report on Friday, January 9th. Finally, Loop Capital set a $481.67 price target on Ferrari in a research note on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $480.67.

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.