Deutsche Bank AG Purchases 42,950 Shares of Ferrari (NYSE:RACE)

Deutsche Bank AG grew its position in Ferrari (NYSE:RACE) by 5.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 816,592 shares of the company’s stock after purchasing an additional 42,950 shares during the quarter. Deutsche Bank AG’s holdings in Ferrari were worth $346,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new position in Ferrari during the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. boosted its position in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Ferrari in the 4th quarter valued at $45,000. Plato Investment Management Ltd bought a new position in shares of Ferrari in the 4th quarter worth $53,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Ferrari by 705.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock worth $58,000 after purchasing an additional 120 shares during the last quarter.

Ferrari Trading Up 1.1 %

NYSE RACE opened at $482.09 on Friday. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. The company has a fifty day simple moving average of $441.81 and a two-hundred day simple moving average of $446.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a market cap of $116.85 billion, a P/E ratio of 52.69, a P/E/G ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. On average, analysts forecast that Ferrari will post 9.22 earnings per share for the current year.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were given a $3.1265 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is currently 5.63%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RACE. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. UBS Group lifted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a research report on Wednesday. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $501.60.

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.