LGT Group Foundation Trims Stake in Stellantis (NYSE:STLA)

LGT Group Foundation lessened its position in Stellantis (NYSE:STLA) by 19.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,450 shares of the company’s stock after selling 5,000 shares during the quarter. LGT Group Foundation’s holdings in Stellantis were worth $405,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Stellantis by 1.2% in the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock worth $2,372,059,000 after purchasing an additional 972,232 shares during the period. Norges Bank purchased a new position in Stellantis in the 4th quarter worth about $832,785,000. Capital International Investors lifted its holdings in Stellantis by 329.3% during the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after buying an additional 17,261,955 shares in the last quarter. Capital World Investors boosted its position in Stellantis by 63.4% in the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after buying an additional 5,336,868 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Stellantis by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after acquiring an additional 548,929 shares in the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Trading Down 2.6 %

Shares of STLA stock opened at $15.15 on Wednesday. Stellantis has a 1-year low of $14.91 and a 1-year high of $29.51. The stock’s 50-day moving average is $17.43 and its 200 day moving average is $21.88. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Insider Activity at Stellantis

In related news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

STLA has been the subject of a number of research reports. Barclays upgraded Stellantis to a “strong-buy” rating in a report on Monday, June 17th. Jefferies Financial Group reissued a “hold” rating and set a $16.44 price target (down previously from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft downgraded Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Nomura Securities raised Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein started coverage on Stellantis in a research report on Friday, June 28th. They set a “market perform” rating and a $23.50 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.34.

Stellantis 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.