Thornburg Investment Management Inc. Sells 300,395 Shares of Stellantis (NYSE:STLA)

Thornburg Investment Management Inc. decreased its holdings in shares of Stellantis (NYSE:STLA - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,150,333 shares of the company's stock after selling 300,395 shares during the quarter. Stellantis comprises approximately 1.1% of Thornburg Investment Management Inc.'s holdings, making the stock its 26th largest position. Thornburg Investment Management Inc. owned about 0.10% of Stellantis worth $73,530,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its stake in Stellantis by 10.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 71,715 shares of the company's stock valued at $1,672,000 after acquiring an additional 6,763 shares during the period. Vise Technologies Inc. boosted its stake in Stellantis by 4.2% in the fourth quarter. Vise Technologies Inc. now owns 62,336 shares of the company's stock worth $1,454,000 after purchasing an additional 2,504 shares in the last quarter. Nvwm LLC acquired a new stake in Stellantis in the 4th quarter valued at about $885,000. Forum Financial Management LP lifted its holdings in Stellantis by 17.4% during the 4th quarter. Forum Financial Management LP now owns 14,520 shares of the company's stock worth $339,000 after buying an additional 2,147 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Stellantis by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,514,872 shares of the company's stock valued at $175,249,000 after acquiring an additional 214,654 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

Insider Activity at Stellantis

In other Stellantis news, major shareholder N.V. Stellantis purchased 800,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of $4.60 per share, with a total value of $3,680,000.00. Following the transaction, the insider now directly owns 35,451,720 shares in the company, valued at approximately $163,077,912. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 3,150,000 shares of company stock worth $15,724,500 over the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STLA shares. HSBC cut shares of Stellantis from a "buy" rating to a "hold" rating in a report on Wednesday, January 24th. Piper Sandler started coverage on Stellantis in a report on Friday, March 15th. They set an "overweight" rating and a $39.00 target price on the stock. Wolfe Research assumed coverage on Stellantis in a report on Thursday, February 1st. They issued an "outperform" rating for the company. Morgan Stanley lifted their price objective on Stellantis from $26.00 to $30.40 and gave the company an "overweight" rating in a report on Thursday, April 11th. Finally, Nomura reissued a "neutral" rating on shares of Stellantis in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Stellantis presently has an average rating of "Hold" and an average target price of $30.28.

Stellantis Stock Performance

Shares of NYSE:STLA traded up $0.66 during trading on Tuesday, reaching $23.32. The company had a trading volume of 7,691,962 shares, compared to its average volume of 5,752,466. Stellantis has a 12 month low of $15.07 and a 12 month high of $29.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.24 and a quick ratio of 0.95. The company has a fifty day moving average of $26.10 and a two-hundred day moving average of $23.70.

Stellantis Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were paid a dividend of $1.147 per share. The ex-dividend date of this dividend was Monday, April 22nd. This represents a dividend yield of 4.55%.

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.

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