Amundi Sells 712,510 Shares of Ferrari (NYSE:RACE)

Amundi cut its holdings in Ferrari (NYSE:RACE) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,931,367 shares of the company’s stock after selling 712,510 shares during the period. Amundi owned about 1.20% of Ferrari worth $1,271,832,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new position in shares of Ferrari during the 4th quarter worth about $26,000. Planning Capital Management Corp purchased a new stake in Ferrari in the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC purchased a new stake in Ferrari in the 3rd quarter valued at about $33,000. Hobbs Group Advisors LLC purchased a new stake in Ferrari in the 3rd quarter valued at about $47,000. Finally, Armstrong Advisory Group Inc. boosted its position in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the period.

Ferrari Price Performance

Shares of RACE opened at $450.14 on Friday. The company has a 50 day moving average price of $452.18 and a 200-day moving average price of $456.95. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13. The stock has a market capitalization of $109.10 billion, a PE ratio of 49.20, a PEG ratio of 4.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

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 dividend of $3.1265 per share. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is 5.63%.

Analysts Set New Price Targets

RACE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Company 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.