Glenorchy Capital Ltd Purchases New Position in Stellantis (NYSE:STLA)

Glenorchy Capital Ltd acquired a new position in Stellantis (NYSE:STLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,976 shares of the company’s stock, valued at approximately $326,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Stellantis by 10.5% during the third quarter. Vanguard Group Inc. now owns 83,232,805 shares of the company’s stock valued at $1,592,244,000 after buying an additional 7,883,816 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Stellantis by 100,358.0% during the third quarter. Acadian Asset Management LLC now owns 20,993,704 shares of the company’s stock valued at $404,714,000 after buying an additional 20,972,806 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of Stellantis during the third quarter valued at $232,047,000. Bank of New York Mellon Corp grew its holdings in shares of Stellantis by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 10,751,212 shares of the company’s stock valued at $205,671,000 after buying an additional 185,487 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Stellantis by 5.1% during the third quarter. Canada Pension Plan Investment Board now owns 9,173,212 shares of the company’s stock valued at $176,858,000 after buying an additional 442,100 shares during the last quarter. Institutional investors own 59.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STLA. Piper Sandler assumed coverage on shares of Stellantis in a report on Friday, March 15th. They set an “overweight” rating and a $39.00 price objective on the stock. Berenberg Bank reaffirmed a “hold” rating on shares of Stellantis in a report on Tuesday, March 26th. Sanford C. Bernstein lowered shares of Stellantis from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 28th. Morgan Stanley upped their price target on shares of Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Redburn Atlantic assumed coverage on shares of Stellantis in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Stellantis has an average rating of “Hold” and an average price target of $30.28.

Stellantis Trading Up 1.5 %

Shares of STLA stock traded up $0.38 during mid-day trading on Tuesday, hitting $24.96. 5,392,120 shares of the stock were exchanged, compared to its average volume of 5,486,021. The firm has a fifty day moving average of $26.99 and a 200 day moving average of $23.36. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Stellantis has a 52-week low of $15.07 and a 52-week high of $29.51.

Stellantis Announces Dividend

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

Insider Transactions at Stellantis

In related news, major shareholder N.V. Stellantis purchased 750,000 shares of Stellantis stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $5.19 per share, for a total transaction of $3,892,500.00. Following the transaction, the insider now directly owns 39,351,720 shares in the company, valued at $204,235,426.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 3,150,000 shares of company stock valued at $15,724,500 in the last ninety days.

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.