Ferrari (NYSE:RACE) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its position in Ferrari (NYSE:RACE - Free Report) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 459,651 shares of the company's stock after selling 28,417 shares during the period. Clearbridge Investments LLC owned approximately 0.19% of Ferrari worth $195,278,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its position in Ferrari by 63.4% during the third quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company's stock worth $1,274,000 after acquiring an additional 1,051 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Ferrari by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company's stock worth $4,412,000 after acquiring an additional 1,864 shares during the last quarter. Townsquare Capital LLC grew its holdings in Ferrari by 24.8% in the third quarter. Townsquare Capital LLC now owns 5,435 shares of the company's stock valued at $2,555,000 after purchasing an additional 1,079 shares during the period. Icon Wealth Advisors LLC increased its position in Ferrari by 8.5% during the third quarter. Icon Wealth Advisors LLC now owns 436 shares of the company's stock worth $205,000 after purchasing an additional 34 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Ferrari during the third quarter worth approximately $4,988,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RACE. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Finally, UBS Group decreased their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $490.29.

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Ferrari Stock Down 1.2 %

RACE stock traded down $5.14 during trading on Thursday, reaching $433.40. The stock had a trading volume of 395,101 shares, compared to its average volume of 440,896. 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 firm has a fifty day moving average price of $455.78 and a 200 day moving average price of $451.54. The company has a market capitalization of $105.05 billion, a P/E ratio of 47.37, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13.

Ferrari Increases Dividend

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

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.