Wellington Management Group LLP Sells 47,481 Shares of Ferrari (NYSE:RACE)

Wellington Management Group LLP decreased its holdings in Ferrari (NYSE:RACE - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 301,997 shares of the company's stock after selling 47,481 shares during the period. Wellington Management Group LLP owned about 0.12% of Ferrari worth $128,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Ferrari by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after buying an additional 45,754 shares during the last quarter. Bank of Italy raised its holdings in Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after acquiring an additional 63,675 shares during the period. Norges Bank acquired a new stake in Ferrari during the fourth quarter worth approximately $697,226,000. Bank of New York Mellon Corp boosted its holdings in shares of Ferrari by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after acquiring an additional 38,356 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of Ferrari by 6.4% in the fourth quarter. William Blair Investment Management LLC now owns 594,657 shares of the company's stock valued at $252,634,000 after purchasing an additional 35,525 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on RACE. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. UBS Group dropped their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a report on Tuesday. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $490.29.

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Ferrari Price Performance

RACE stock traded down $16.73 during mid-day trading on Friday, hitting $414.50. The stock had a trading volume of 1,227,687 shares, compared to its average volume of 312,992. The firm has a fifty day simple moving average of $455.81 and a 200 day simple moving average of $451.40. The firm has a market capitalization of $100.47 billion, a P/E ratio of 45.30, a P/E/G 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. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This represents a yield of 0.5%. This is a boost 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 (DPR) is 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.