Ethic Inc. Cuts Stock Holdings in Stellantis (NYSE:STLA)

Ethic Inc. trimmed its position in shares of Stellantis (NYSE:STLA) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 73,302 shares of the company’s stock after selling 1,473 shares during the quarter. Ethic Inc.’s holdings in Stellantis were worth $957,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in STLA. Norges Bank bought a new stake in shares of Stellantis during the 4th quarter worth $609,076,000. Marshall Wace LLP raised its stake in Stellantis by 72,446.0% in the 4th quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock valued at $226,899,000 after acquiring an additional 17,376,176 shares during the period. Banco Santander S.A. raised its stake in Stellantis by 282.2% in the 4th quarter. Banco Santander S.A. now owns 7,258,025 shares of the company’s stock valued at $94,717,000 after acquiring an additional 5,359,190 shares during the period. Capital Research Global Investors raised its stake in Stellantis by 306.9% in the 4th quarter. Capital Research Global Investors now owns 6,905,990 shares of the company’s stock valued at $90,636,000 after acquiring an additional 5,208,889 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Stellantis in the 4th quarter valued at about $62,769,000. 59.48% of the stock is currently owned by institutional investors.

Stellantis Stock Up 4.7%

STLA stock opened at $10.96 on Wednesday. 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 capitalization of $33.13 billion, a PE ratio of 3.21 and a beta of 1.45. Stellantis has a twelve month low of $8.39 and a twelve month high of $23.37. The stock has a 50-day simple moving average of $10.49 and a two-hundred day simple moving average of $12.25.

Stellantis Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $13.00 in a research note on Thursday, March 20th. UBS Group cut Stellantis from a “buy” rating to a “neutral” rating in a research note on Monday, April 14th. DZ Bank upgraded Stellantis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 22nd. Redburn Atlantic cut Stellantis from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 22nd. Finally, Cowen started coverage on Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.49.

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.