Rheos Capital Works Inc. Has $52.51 Million Stock Position in Ferrari (NYSE:RACE)

Rheos Capital Works Inc. grew its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 30.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,700 shares of the company's stock after buying an additional 26,000 shares during the quarter. Ferrari makes up 2.7% of Rheos Capital Works Inc.'s portfolio, making the stock its 4th largest position. Rheos Capital Works Inc. owned about 0.06% of Ferrari worth $52,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RACE. Capital International Investors lifted its position in Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company's stock worth $454,792,000 after buying an additional 791,596 shares in the last quarter. Marshall Wace LLP lifted its position in Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company's stock worth $361,961,000 after buying an additional 461,409 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Ferrari by 6,024.9% during the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company's stock worth $166,054,000 after purchasing an additional 374,691 shares during the last quarter. Capital World Investors increased its stake in shares of Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company's stock worth $419,547,000 after purchasing an additional 245,872 shares during the last quarter. Finally, Capital International Inc. CA increased its stake in shares of Ferrari by 207.3% during the 1st quarter. Capital International Inc. CA now owns 237,277 shares of the company's stock worth $103,419,000 after purchasing an additional 160,055 shares during the last quarter.

Ferrari Stock Performance

RACE traded up $10.37 on Thursday, reaching $482.36. The company had a trading volume of 302,076 shares, compared to its average volume of 275,112. Ferrari has a fifty-two week low of $296.34 and a fifty-two week high of $498.23. The stock has a market cap of $89.12 billion, a P/E ratio of 61.60, a P/E/G ratio of 4.76 and a beta of 0.99. The company's fifty day moving average is $468.22 and its 200 day moving average is $435.04. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.99 EPS. As a group, analysts predict that Ferrari will post 8.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RACE shares. UBS Group boosted their price objective on shares of Ferrari from $448.00 to $478.00 and gave the stock a "buy" rating in a research note on Monday, June 24th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. upgraded shares of Ferrari from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $487.86.

Ferrari 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.