Capital International Inc. CA Decreases Stake in Ferrari (NYSE:RACE)

Capital International Inc. CA lessened its stake in shares of Ferrari (NYSE:RACE) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 220,624 shares of the company’s stock after selling 12,572 shares during the quarter. Ferrari comprises approximately 1.1% of Capital International Inc. CA’s investment portfolio, making the stock its 19th largest position. Capital International Inc. CA’s holdings in Ferrari were worth $94,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of RACE. Vanguard Group Inc. boosted its position in Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after buying an additional 45,754 shares during the last quarter. Bank of Italy boosted its holdings in shares of 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 last quarter. Norges Bank purchased a new stake in shares of Ferrari in the 4th quarter valued at $697,226,000. Bank of New York Mellon Corp increased its stake in shares of Ferrari by 2.4% in 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, Marshall Wace LLP raised its holdings in shares of Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after purchasing an additional 520,337 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on RACE. UBS Group lowered their price target on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $481.60.

Ferrari Price Performance

RACE stock opened at $439.76 on Friday. The business has a fifty day moving average of $450.23 and a two-hundred day moving average of $447.40. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The stock has a market cap of $106.59 billion, a price-to-earnings ratio of 48.06, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03.

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 given a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is currently 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.