Capital World Investors Sells 218,462 Shares of Ferrari (NYSE:RACE)

Capital World Investors decreased its position in shares of Ferrari (NYSE:RACE - Free Report) by 22.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 752,294 shares of the company's stock after selling 218,462 shares during the quarter. Capital World Investors owned about 0.31% of Ferrari worth $322,756,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 acquiring an additional 45,754 shares in the last quarter. Bank of Italy grew its position in Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after purchasing an additional 63,675 shares in the last quarter. Norges Bank acquired a new stake in Ferrari in the 4th quarter valued at $697,226,000. Bank of New York Mellon Corp lifted its position in Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after buying an additional 38,356 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after buying an additional 520,337 shares during the last quarter.

Ferrari Price Performance

Ferrari stock traded up $3.88 during mid-day trading on Friday, reaching $460.70. 250,164 shares of the company were exchanged, compared to its average volume of 328,469. The firm has a market cap of $111.66 billion, a PE ratio of 50.35, a PEG ratio of 4.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a fifty day simple moving average of $445.37 and a 200-day simple moving average of $447.22. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This represents a 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%.

Analysts Set New Price Targets

Several research firms have recently commented on RACE. JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. 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 began coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and an average price target of $481.60.

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.