Capital International Investors Trims Holdings in Ferrari N.V. $RACE

Capital International Investors decreased its stake in shares of Ferrari N.V. (NYSE:RACE) by 60.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 598,299 shares of the company’s stock after selling 901,705 shares during the quarter. Capital International Investors owned about 0.25% of Ferrari worth $222,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Groupama Asset Managment increased its stake in Ferrari by 5.7% during the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after acquiring an additional 916,821 shares during the last quarter. Vanguard Group Inc. increased its stake in Ferrari by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after acquiring an additional 58,506 shares during the last quarter. Amundi increased its stake in Ferrari by 8.0% during the third quarter. Amundi now owns 2,972,368 shares of the company’s stock worth $1,461,008,000 after acquiring an additional 219,909 shares during the last quarter. Alliancebernstein L.P. increased its stake in Ferrari by 27.5% during the third quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock worth $1,154,465,000 after acquiring an additional 512,703 shares during the last quarter. Finally, Norges Bank acquired a new stake in Ferrari during the fourth quarter worth $779,894,000.

Ferrari Trading Up 1.4%

Shares of NYSE RACE opened at $351.96 on Tuesday. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $343.58 and a 200-day simple moving average of $354.78. The stock has a market capitalization of $82.34 billion, a PE ratio of 33.77, a PEG ratio of 3.30 and a beta of 0.93.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. UBS Group cut their target price on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, Citigroup raised Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.