Two Sigma Investments LP Cuts Position in Stellantis (NYSE:STLA)

Two Sigma Investments LP lessened its position in shares of Stellantis (NYSE:STLA - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,222,086 shares of the company's stock after selling 114,175 shares during the quarter. Two Sigma Investments LP's holdings in Stellantis were worth $15,948,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of STLA. Norges Bank acquired a new stake in Stellantis in the fourth quarter valued at approximately $609,076,000. Bridgewater Associates LP acquired a new position in shares of Stellantis during the 4th quarter valued at about $999,000. Korea Investment CORP grew its stake in shares of Stellantis by 32.1% in the 4th quarter. Korea Investment CORP now owns 1,305,558 shares of the company's stock valued at $17,020,000 after buying an additional 317,091 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in Stellantis by 3.7% in the fourth 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 period. Finally, Raymond James Financial Inc. acquired a new position in Stellantis in the fourth quarter valued at about $1,151,000. Institutional investors and hedge funds own 59.48% of the company's stock.

Stellantis Stock Performance

Shares of NYSE STLA traded up $0.57 during mid-day trading on Tuesday, hitting $10.46. 9,022,982 shares of the company were exchanged, compared to its average volume of 11,241,326. The stock has a 50 day simple moving average of $10.13 and a 200-day simple moving average of $12.04. Stellantis has a 1-year low of $8.39 and a 1-year high of $22.61. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The firm has a market cap of $31.61 billion, a price-to-earnings ratio of 3.07 and a beta of 1.45.

Stellantis Dividend Announcement

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

Analyst Upgrades and Downgrades

STLA has been the subject of several recent research reports. TD Cowen started coverage on shares of Stellantis in a research note on Friday, March 7th. They issued a "hold" rating and a $13.00 price objective for the company. UBS Group downgraded Stellantis from a "buy" rating to a "neutral" rating in a research report on Monday, April 14th. DZ Bank raised shares of Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Cowen initiated coverage on shares of Stellantis in a report on Thursday, March 6th. They set a "hold" rating for the company. Finally, Piper Sandler cut Stellantis from an "overweight" rating to a "neutral" rating and cut their price target for the company from $23.00 to $13.00 in a research note on Thursday, March 20th. Twelve equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $16.49.

Stellantis Company 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.