Hsbc Holdings PLC Sells 5,186,588 Shares of Stellantis N.V. $STLA

Key Points

• HSBC Holdings PLC sharply cut its Stellantis stake, selling 5,186,588 shares in the fourth quarter and reducing its position by 98.2%. After the sale, it held just 93,786 shares valued at about $1.03 million.
• Stellantis’ stock was trading near its low end, opening at $5.58 and sitting close to its 52-week low of $5.25, well below its 52-week high of $12.22. The company’s market cap was about $21 billion.
• Analyst sentiment remains cautious, with HSBC downgrading the stock to “reduce” and the overall consensus rating at “Hold.” The average target price tracked in the article was $10.01, above the current share price.

Hsbc Holdings PLC decreased its position in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 98.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,786 shares of the company's stock after selling 5,186,588 shares during the period. Hsbc Holdings PLC's holdings in Stellantis were worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LLC increased its position in shares of Stellantis by 5.7% during the fourth quarter. Corient Private Wealth LLC now owns 38,609 shares of the company's stock worth $421,000 after purchasing an additional 2,097 shares in the last quarter. Groupama Asset Managment boosted its position in shares of Stellantis by 55.9% in the 4th quarter. Groupama Asset Managment now owns 236,270 shares of the company's stock worth $2,573,000 after purchasing an additional 84,764 shares in the last quarter. Compound Planning Inc. acquired a new stake in shares of Stellantis in the 4th quarter worth $156,000. Zurich Insurance Group Ltd FI grew its stake in Stellantis by 183.8% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 2,084,816 shares of the company's stock worth $23,157,000 after buying an additional 1,350,154 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in Stellantis during the 4th quarter worth $783,000. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Stellantis Trading Up 1.5%

Stellantis stock opened at $5.58 on Tuesday. The stock has a 50-day moving average price of $6.83 and a 200 day moving average price of $7.90. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 0.21 and a beta of 1.46. Stellantis N.V. has a 52 week low of $5.25 and a 52 week high of $12.22. The company has a quick ratio of 0.75, a current ratio of 1.03 and a debt-to-equity ratio of 0.50.

Stellantis (NYSE:STLA - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The business had revenue of $44.14 billion during the quarter. Sell-side analysts anticipate that Stellantis N.V. will post 0.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Stellantis in a research note on Monday, April 20th. HSBC lowered Stellantis from a "hold" rating to a "reduce" rating in a research note on Friday, July 3rd. JPMorgan Chase & Co. restated a "neutral" rating on shares of Stellantis in a report on Thursday, July 9th. Kepler Capital Markets lowered shares of Stellantis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 16th. Finally, TD Cowen dropped their target price on shares of Stellantis from $9.00 to $6.00 and set a "hold" rating on the stock in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Stellantis presently has a consensus rating of "Hold" and an average target price of $10.01.

Stellantis Profile

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.

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