Stellantis N.V. $STLA Shares Purchased by Bank of Italy

Key Points

• Bank of Italy raised its stake in Stellantis by 11.6% in Q3, buying 3.8 million shares to hold 36,630,307 shares (about 1.21% of Stellantis) valued at $338.2 million, making STLA its second-largest holding and roughly 16.3% of the bank’s portfolio.
• Stellantis recently reported a heavy EPS miss (−$0.91 vs. $0.41 expected) with slightly lower-than-expected revenue, and analysts' consensus rating is Hold with a $11.77 price target amid mixed buy/hold/sell opinions.

Bank of Italy raised its holdings in Stellantis N.V. (NYSE:STLA - Free Report) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,630,307 shares of the company's stock after purchasing an additional 3,800,000 shares during the period. Stellantis comprises approximately 16.3% of Bank of Italy's holdings, making the stock its 2nd largest holding. Bank of Italy owned about 1.21% of Stellantis worth $338,212,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Generali Asset Management SPA SGR lifted its holdings in Stellantis by 2.2% during the 3rd quarter. Generali Asset Management SPA SGR now owns 4,743,160 shares of the company's stock worth $44,301,000 after buying an additional 102,328 shares during the last quarter. Aviva PLC raised its position in shares of Stellantis by 81.3% during the 2nd quarter. Aviva PLC now owns 2,322,896 shares of the company's stock valued at $23,265,000 after acquiring an additional 1,041,684 shares in the last quarter. 111 Capital bought a new position in Stellantis during the second quarter worth $1,819,000. Elgethun Capital Management boosted its holdings in Stellantis by 8.2% in the second quarter. Elgethun Capital Management now owns 342,727 shares of the company's stock worth $3,438,000 after purchasing an additional 26,042 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Stellantis by 8.7% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 7,009,256 shares of the company's stock valued at $70,002,000 after purchasing an additional 562,789 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STLA shares. HSBC restated a "hold" rating on shares of Stellantis in a research report on Tuesday, January 13th. TD Cowen restated a "hold" rating on shares of Stellantis in a research note on Friday, December 12th. Zacks Research lowered Stellantis from a "hold" rating to a "strong sell" rating in a report on Friday, January 2nd. UBS Group raised Stellantis from a "neutral" rating to a "buy" rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Stellantis in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $11.77.

Stellantis Price Performance

Shares of NYSE STLA opened at $9.87 on Friday. Stellantis N.V. has a 12-month low of $8.39 and a 12-month high of $14.28. The stock has a 50 day simple moving average of $10.80 and a 200-day simple moving average of $10.18. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37.

Stellantis (NYSE:STLA - Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of $0.41 by ($1.32). The business had revenue of $87.44 billion during the quarter, compared to analysts' expectations of $87.94 billion. On average, equities analysts expect that Stellantis N.V. will post 2.3 earnings per share for the current year.

About Stellantis

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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