Capital World Investors Sells 2,720,808 Shares of Stellantis (NYSE:STLA)

Capital World Investors cut its stake in Stellantis (NYSE:STLA - Free Report) by 24.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,443,806 shares of the company's stock after selling 2,720,808 shares during the period. Capital World Investors owned about 0.28% of Stellantis worth $110,615,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STLA. Norges Bank purchased a new position in shares of Stellantis in the 4th quarter worth about $609,076,000. Bridgewater Associates LP purchased a new stake in Stellantis in the fourth quarter worth approximately $999,000. Korea Investment CORP grew its position in Stellantis by 32.1% during the fourth quarter. Korea Investment CORP now owns 1,305,558 shares of the company's stock valued at $17,020,000 after acquiring an additional 317,091 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Stellantis by 3.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,529,083 shares of the company's stock worth $59,045,000 after acquiring an additional 162,201 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Stellantis in the 4th quarter valued at $1,151,000. Institutional investors own 59.48% of the company's stock.

Stellantis Stock Up 0.9 %

STLA traded up $0.08 on Friday, hitting $9.41. The company had a trading volume of 6,551,659 shares, compared to its average volume of 10,780,445. The stock has a fifty day simple moving average of $11.32 and a 200-day simple moving average of $12.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market capitalization of $28.45 billion, a P/E ratio of 2.76 and a beta of 1.44. Stellantis has a 52-week low of $8.39 and a 52-week high of $25.05.

Stellantis Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 24th will be paid a $0.5032 dividend. This represents a dividend yield of 6.07%. The ex-dividend date of this dividend is Wednesday, April 23rd. Stellantis's payout ratio is presently 20.82%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STLA. Redburn Atlantic downgraded shares of Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday. TD Cowen started coverage on Stellantis in a research report on Friday, March 7th. They issued a "hold" rating and a $13.00 price objective for the company. DZ Bank raised shares of Stellantis from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Cowen began coverage on shares of Stellantis in a research report on Thursday, March 6th. They set a "hold" rating for the company. Finally, Piper Sandler lowered shares of Stellantis from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. Twelve investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $16.49.

Stellantis Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.