Hexagon Capital Partners LLC Grows Stock Position in Ferrari (NYSE:RACE)

Hexagon Capital Partners LLC increased its position in shares of Ferrari (NYSE:RACE) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 239 shares of the company’s stock after buying an additional 33 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Ferrari were worth $104,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Miracle Mile Advisors LLC raised its position in shares of Ferrari by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,051 shares of the company’s stock valued at $1,766,000 after buying an additional 51 shares during the period. LVW Advisors LLC raised its position in Ferrari by 24.3% in the first quarter. LVW Advisors LLC now owns 3,015 shares of the company’s stock valued at $1,314,000 after purchasing an additional 590 shares during the period. Fox Hill Wealth Management raised its position in Ferrari by 15.7% in the first quarter. Fox Hill Wealth Management now owns 3,396 shares of the company’s stock valued at $1,480,000 after purchasing an additional 462 shares during the period. Register Financial Advisors LLC purchased a new stake in Ferrari in the first quarter valued at approximately $33,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Ferrari by 16.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,702 shares of the company’s stock valued at $742,000 after purchasing an additional 235 shares during the period.

Ferrari Trading Up 0.5 %

Shares of RACE stock traded up $1.87 on Monday, reaching $410.24. 187,380 shares of the stock were exchanged, compared to its average volume of 282,159. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. The business’s 50 day moving average price is $415.26 and its 200 day moving average price is $396.31. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. As a group, analysts expect that Ferrari will post 8.2 EPS for the current fiscal year.

Ferrari Announces Dividend

The company also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were paid a dividend of $2.443 per share. The ex-dividend date of this dividend was Monday, April 22nd. This represents a dividend yield of 0.62%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Sanford C. Bernstein boosted their target price on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a research report on Monday, April 22nd. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Bank of America boosted their price target on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $461.67.

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.