Amundi Sells 712,510 Shares of Ferrari (NYSE:RACE)

Amundi decreased its position in Ferrari (NYSE:RACE - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,931,367 shares of the company's stock after selling 712,510 shares during the quarter. Amundi owned approximately 1.20% of Ferrari worth $1,271,832,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC boosted its holdings in shares of Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company's stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after buying an additional 192,694 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Ferrari by 83.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company's stock worth $108,417,000 after buying an additional 105,390 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company's stock worth $103,621,000 after buying an additional 104,366 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in shares of Ferrari in the 3rd quarter worth about $43,801,000.

Analyst Ratings Changes

Several equities research analysts have commented on RACE shares. Barclays downgraded shares of Ferrari from an "overweight" rating to an "equal weight" rating in a report on Wednesday, February 5th. StockNews.com downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $507.14.

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Ferrari Price Performance

Shares of Ferrari stock traded up $3.44 on Friday, reaching $450.14. The stock had a trading volume of 443,518 shares, compared to its average volume of 281,390. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The company has a market cap of $109.10 billion, a P/E ratio of 49.20, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. 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 business's 50 day moving average is $452.18 and its two-hundred day moving average is $456.88.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. This represents a dividend yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari's dividend payout ratio is presently 5.63%.

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.