Ferrari (NYSE:RACE) Shares Sold by Capital International Inc. CA

Capital International Inc. CA lessened its stake in shares of Ferrari (NYSE:RACE - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 220,624 shares of the company's stock after selling 12,572 shares during the period. Ferrari accounts for approximately 1.1% of Capital International Inc. CA's portfolio, making the stock its 19th biggest position. Capital International Inc. CA owned about 0.09% of Ferrari worth $94,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hanson & Doremus Investment Management acquired a new position in Ferrari in the 4th quarter valued at about $26,000. Armstrong Advisory Group Inc. raised its position in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after buying an additional 50 shares during the period. Kestra Investment Management LLC acquired a new position in Ferrari in the fourth quarter valued at approximately $45,000. Plato Investment Management Ltd purchased a new position in Ferrari in the fourth quarter worth approximately $53,000. Finally, Newbridge Financial Services Group Inc. grew its position in Ferrari by 705.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after acquiring an additional 120 shares during the period.

Ferrari Stock Down 0.5 %

Ferrari stock traded down $2.26 during trading on Wednesday, reaching $441.51. The stock had a trading volume of 340,590 shares, compared to its average volume of 471,947. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The business has a 50 day moving average price of $448.42 and a 200 day moving average price of $447.22. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a market cap of $107.01 billion, a PE ratio of 48.25, a P/E/G ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

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

Analysts Set New Price Targets

RACE has been the subject of a number of research analyst reports. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

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.