AKO Capital LLP Cuts Holdings in Ferrari NV (RACE)

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AKO Capital LLP lowered its holdings in shares of Ferrari NV (NYSE:RACE) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,353,761 shares of the company’s stock after selling 303,620 shares during the period. Ferrari comprises 23.5% of AKO Capital LLP’s portfolio, making the stock its largest holding. AKO Capital LLP owned approximately 1.77% of Ferrari worth $461,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RACE. Janney Montgomery Scott LLC acquired a new position in shares of Ferrari in the third quarter valued at approximately $1,612,000. Wells Fargo & Company MN raised its position in shares of Ferrari by 0.7% in the third quarter. Wells Fargo & Company MN now owns 473,581 shares of the company’s stock valued at $64,838,000 after buying an additional 3,369 shares during the last quarter. Ashfield Capital Partners LLC raised its position in shares of Ferrari by 28.4% in the third quarter. Ashfield Capital Partners LLC now owns 14,174 shares of the company’s stock valued at $1,941,000 after buying an additional 3,134 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in shares of Ferrari by 213.5% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 14,561 shares of the company’s stock valued at $1,994,000 after buying an additional 9,916 shares during the last quarter. Finally, Cornerstone Wealth Management LLC raised its position in shares of Ferrari by 510.4% in the third quarter. Cornerstone Wealth Management LLC now owns 71,768 shares of the company’s stock valued at $625,000 after buying an additional 60,010 shares during the last quarter. Institutional investors own 34.28% of the company’s stock.

Shares of RACE stock opened at $114.20 on Friday. Ferrari NV has a one year low of $103.65 and a one year high of $149.85. The company has a quick ratio of 2.71, a current ratio of 4.05 and a debt-to-equity ratio of 1.53. The company has a market cap of $21.92 billion, a P/E ratio of 35.80, a P/E/G ratio of 1.99 and a beta of 1.44.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.88 by $0.02. Ferrari had a net margin of 21.34% and a return on equity of 62.07%. The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $864.50 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. Ferrari’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts anticipate that Ferrari NV will post 3.59 EPS for the current year.

RACE has been the subject of a number of analyst reports. Credit Suisse Group boosted their price objective on shares of Ferrari from $156.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, September 20th. Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Ferrari in a research report on Tuesday, October 2nd. Societe Generale raised shares of Ferrari from a “sell” rating to a “hold” rating and boosted their price objective for the company from $94.00 to $130.00 in a research report on Wednesday, October 10th. Zacks Investment Research lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $145.67.

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Ferrari Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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