Henry James International Management Inc. Has $11.12 Million Stake in Ferrari (NYSE:RACE)

Henry James International Management Inc. lifted its holdings in Ferrari (NYSE:RACE) by 2.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,850 shares of the company’s stock after purchasing an additional 785 shares during the period. Ferrari comprises approximately 4.2% of Henry James International Management Inc.’s portfolio, making the stock its 2nd largest holding. Henry James International Management Inc.’s holdings in Ferrari were worth $11,117,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the period. Merlin Capital Inc increased its holdings in Ferrari by 1.3% during the 3rd quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after purchasing an additional 32 shares during the period. Allworth Financial LP increased its holdings in Ferrari by 17.0% during the 4th quarter. Allworth Financial LP now owns 255 shares of the company’s stock worth $86,000 after purchasing an additional 37 shares during the period. Lindbrook Capital LLC increased its holdings in Ferrari by 8.1% during the 4th quarter. Lindbrook Capital LLC now owns 508 shares of the company’s stock worth $172,000 after purchasing an additional 38 shares during the period. Finally, Simplicity Solutions LLC increased its holdings in Ferrari by 2.8% during the 3rd quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after purchasing an additional 39 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley restated an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a report on Monday, April 22nd. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America increased their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI increased their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $413.86.

Ferrari Stock Performance

Shares of Ferrari stock traded up $5.73 during trading on Friday, reaching $430.29. The company’s stock had a trading volume of 288,971 shares, compared to its average volume of 232,041. The company has a 50-day simple moving average of $422.25 and a two-hundred day simple moving average of $374.93. Ferrari has a 1-year low of $283.20 and a 1-year 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 results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. On average, sell-side analysts predict that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Announces Dividend

The company also recently declared 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 of this dividend was Monday, April 22nd. This represents a yield of 0.62%.

Ferrari Company Profile

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.