Credit Industriel ET Commercial Takes $1.30 Million Position in Stellantis (NYSE:STLA)

Credit Industriel ET Commercial bought a new stake in Stellantis (NYSE:STLA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 103,253 shares of the company's stock, valued at approximately $1,300,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Stellantis in the fourth quarter valued at $609,076,000. Bridgewater Associates LP purchased a new stake in Stellantis during the 4th quarter worth approximately $999,000. Korea Investment CORP lifted its holdings in Stellantis by 32.1% during the 4th quarter. Korea Investment CORP now owns 1,305,558 shares of the company's stock worth $17,020,000 after buying an additional 317,091 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in 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 valued at $59,045,000 after buying an additional 162,201 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Stellantis in the fourth quarter worth $1,151,000. Hedge funds and other institutional investors own 59.48% of the company's stock.

Stellantis Stock Performance

NYSE:STLA traded up $0.25 during mid-day trading on Tuesday, reaching $9.61. 12,379,698 shares of the stock were exchanged, compared to its average volume of 10,812,767. The stock has a market capitalization of $29.04 billion, a P/E ratio of 2.82 and a beta of 1.44. Stellantis has a 1 year low of $8.39 and a 1 year high of $25.05. The company has a 50 day simple moving average of $11.23 and a 200-day simple moving average of $12.51. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Stellantis Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 24th will be issued a dividend of $0.5032 per share. This represents a dividend yield of 6.07%. The ex-dividend date is Wednesday, April 23rd. Stellantis's dividend payout ratio is currently 20.82%.

Analyst Ratings Changes

Several analysts have recently issued reports on STLA shares. TD Cowen assumed coverage on Stellantis in a research note on Friday, March 7th. They issued a "hold" rating and a $13.00 price objective on the stock. Redburn Atlantic lowered Stellantis from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 22nd. Piper Sandler downgraded Stellantis from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $13.00 in a research report on Thursday, March 20th. UBS Group cut shares of Stellantis from a "buy" rating to a "neutral" rating in a report on Monday, April 14th. Finally, Cowen assumed coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a "hold" rating for the company. Twelve equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Stellantis has an average rating of "Hold" and a consensus price target of $16.49.

About Stellantis

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.