Mackenzie Financial Corp Sells 195,590 Shares of Stellantis (NYSE:STLA)

Mackenzie Financial Corp cut its stake in Stellantis (NYSE:STLA - Free Report) by 44.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 241,727 shares of the company's stock after selling 195,590 shares during the quarter. Mackenzie Financial Corp's holdings in Stellantis were worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in Stellantis by 553.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 81,067 shares of the company's stock worth $1,319,000 after buying an additional 68,660 shares during the last quarter. US Bancorp DE increased its position in Stellantis by 3.2% during the first quarter. US Bancorp DE now owns 25,689 shares of the company's stock worth $418,000 after buying an additional 802 shares during the last quarter. HighTower Advisors LLC increased its position in Stellantis by 13.6% during the first quarter. HighTower Advisors LLC now owns 25,936 shares of the company's stock worth $422,000 after buying an additional 3,108 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Stellantis by 14.4% during the first quarter. PNC Financial Services Group Inc. now owns 34,029 shares of the company's stock worth $554,000 after buying an additional 4,276 shares during the last quarter. Finally, BlackRock Inc. increased its position in Stellantis by 34.8% during the first quarter. BlackRock Inc. now owns 1,959,142 shares of the company's stock worth $31,876,000 after buying an additional 505,920 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STLA has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut shares of Stellantis from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 28th. HSBC cut shares of Stellantis from a "buy" rating to a "hold" rating in a research note on Wednesday, January 24th. Morgan Stanley increased their target price on shares of Stellantis from $26.00 to $30.40 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Redburn Atlantic began coverage on shares of Stellantis in a research note on Wednesday, January 24th. They issued a "buy" rating for the company. Finally, Piper Sandler began coverage on shares of Stellantis in a research note on Friday, March 15th. They issued an "overweight" rating and a $39.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.28.

Stellantis Trading Up 0.1 %

NYSE:STLA traded up $0.02 during mid-day trading on Friday, hitting $25.77. The company's stock had a trading volume of 5,980,362 shares, compared to its average volume of 4,689,689. Stellantis has a fifty-two week low of $15.07 and a fifty-two week high of $29.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.24. The stock has a fifty day moving average of $26.97 and a 200-day moving average of $23.28.

Stellantis Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a $1.147 dividend. This represents a yield of 4.55%. The ex-dividend date of this dividend is Monday, April 22nd.

Insider Buying and Selling

In other news, major shareholder N.V. Stellantis acquired 750,000 shares of the company's stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $5.19 per share, with a total value of $3,892,500.00. Following the completion of the acquisition, the insider now owns 39,351,720 shares in the company, valued at approximately $204,235,426.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired 3,150,000 shares of company stock valued at $15,724,500 over the last quarter. Corporate insiders own 0.02% of the company's stock.

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.