Kedalion Capital Management LLP Buys Shares of 500,000 Stellantis N.V. (NYSE:STLA)

Kedalion Capital Management LLP bought a new position in shares of Stellantis N.V. (NYSE:STLA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 500,000 shares of the company's stock, valued at approximately $5,553,000. Stellantis makes up 0.2% of Kedalion Capital Management LLP's investment portfolio, making the stock its 3rd largest position.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Stellantis by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 84,551,129 shares of the company's stock valued at $1,099,842,000 after acquiring an additional 2,102,528 shares during the period. Norges Bank bought a new position in shares of Stellantis in the 4th quarter valued at about $609,076,000. Marshall Wace LLP grew its position in shares of Stellantis by 72,446.0% in the 4th quarter. Marshall Wace LLP now owns 17,400,161 shares of the company's stock valued at $226,899,000 after acquiring an additional 17,376,176 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Stellantis by 24.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,245,300 shares of the company's stock worth $185,626,000 after buying an additional 2,839,709 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Stellantis by 25.7% during the 4th quarter. Franklin Resources Inc. now owns 9,563,705 shares of the company's stock worth $124,309,000 after buying an additional 1,958,142 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STLA. Piper Sandler cut shares of Stellantis from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $13.00 in a research note on Thursday, March 20th. Redburn Atlantic cut shares of Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of Stellantis from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $10.25 to $13.20 in a research note on Wednesday, June 25th. UBS Group cut shares of Stellantis from a "buy" rating to a "neutral" rating in a research note on Monday, April 14th. Finally, Bank of America cut shares of Stellantis from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $16.50 to $11.75 in a research note on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.74.

Stellantis Stock Down 3.0%

Shares of STLA stock traded down $0.31 during mid-day trading on Friday, reaching $10.06. 27,161,239 shares of the company's stock traded hands, compared to its average volume of 12,840,068. Stellantis N.V. has a 12 month low of $8.39 and a 12 month high of $21.05. The company has a market cap of $30.41 billion, a P/E ratio of 2.95, a P/E/G ratio of 0.40 and a beta of 1.44. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $10.06 and its 200-day moving average price is $11.33.

Stellantis Announces Dividend

The company also recently declared a dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 24th were paid a $0.5032 dividend. This represents a yield of 6.07%. The ex-dividend date of this dividend was Wednesday, April 23rd.

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.