Ferrari (NYSE:RACE) Shares Sold by Capital Research Global Investors

Capital Research Global Investors cut its position in shares of Ferrari (NYSE:RACE - Free Report) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 945,663 shares of the company's stock after selling 162,674 shares during the period. Capital Research Global Investors owned 0.39% of Ferrari worth $404,597,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. HBK Sorce Advisory LLC raised its position in Ferrari by 3.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after purchasing an additional 22 shares during the period. Citizens Financial Group Inc. RI lifted its position in Ferrari by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock valued at $251,000 after buying an additional 25 shares during the last quarter. PDS Planning Inc boosted its stake in Ferrari by 4.8% during the fourth quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after buying an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock valued at $140,000 after acquiring an additional 30 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Ferrari by 9.8% during the fourth quarter. Fifth Third Bancorp now owns 393 shares of the company's stock valued at $167,000 after acquiring an additional 35 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. UBS Group dropped their price objective on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Stock Up 0.2 %

Ferrari stock traded up $0.80 during trading on Friday, reaching $457.62. The stock had a trading volume of 132,876 shares, compared to its average volume of 328,741. 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 $446.24 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 $110.92 billion, a PE ratio of 50.02, a P/E/G ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

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