Amundi Reduces Stake in Ferrari (NYSE:RACE)

In its latest filing with the Securities and Exchange Commission, Amundi disclosed a significant reduction in its holdings of Ferrari (NYSE:RACE). During the fourth quarter, Amundi cut its stake by 19.6%, selling 712,510 shares. Following this divestment, the fund now owns 2,931,367 shares of Ferrari, which translates to approximately 1.20% of the company's total stock. The value of Amundi's stake in Ferrari stood at around $1.27 billion at the end of this reporting period.

Other Investors Adjust Their Positions

Other large investors have also been active in adjusting their positions in Ferrari recently. For instance, Hanson & Doremus Investment Management acquired new shares valued at about $26,000 during the fourth quarter. Planning Capital Management Corp and Ashton Thomas Securities LLC also purchased new stakes in the company in the previous quarters, valued at approximately $30,000 and $33,000, respectively. Additionally, Hobbs Group Advisors LLC invested about $47,000, while Armstrong Advisory Group Inc. doubled its investment by increasing its holdings by 100% during the fourth quarter, bringing its total to 100 shares valued at $42,000.

Ferrari's Stock Performance Overview

As of the latest trading session, Ferrari's shares opened at $450.14. The company has a 50-day moving average of $452.18 and a 200-day moving average of $456.95. Over the past year, Ferrari's shares reached a low of $399.27 and a high of $509.13. The firm is currently valued at a market capitalization of $109.1 billion, with a price-to-earnings (P/E) ratio of 49.20 and a price/earnings to growth (PEG) ratio of 4.43. Ferrari's financial health shows a debt-to-equity ratio of 0.93, while its quick ratio is 3.55 and its current ratio stands at 4.57.

Dividend Announcement

Moreover, Ferrari has recently announced an increase in its annual dividend. This dividend, amounting to $3.1265 per share, will be distributed to investors on May 6th, with an ex-dividend date of April 23rd. This marks a rise from the previous annual dividend of $2.44 and showcases an improved dividend yield of 0.5%. Ferrari's payout ratio currently sits at 5.63%.

Analysts Provide Insights

Ferrari's stock has been under the scrutiny of various analysts recently. Deutsche Bank initiated coverage of the company, issuing a "hold" rating. On the other hand, StockNews.com downgraded its rating from "buy" to "hold". Additionally, Barclays changed its stance from an "overweight" rating to "equal weight". At present, four analysts suggest a "hold" rating, while six recommend buying the stock. MarketBeat.com indicates that Ferrari currently holds an average rating of "Moderate Buy" with an average target price of $507.14.

Ferrari's Company Profile

Ferrari N.V. is engaged in the design, engineering, production, and sale of high-performance luxury sports cars globally. Their portfolio includes a variety of products such as range, special series, Icona, and supercars, as well as limited-edition models. The company also offers racing cars and provides after-sales services like repair and maintenance for its cars.

Amundi, Ferrari, Shares