Korea Investment CORP Buys 317,091 Shares of Stellantis (NYSE:STLA)

Korea Investment CORP raised its stake in Stellantis (NYSE:STLA - Free Report) by 32.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,305,558 shares of the company's stock after acquiring an additional 317,091 shares during the quarter. Korea Investment CORP's holdings in Stellantis were worth $17,020,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC grew its holdings in shares of Stellantis by 59.7% during the third quarter. Cerity Partners LLC now owns 79,737 shares of the company's stock worth $1,120,000 after purchasing an additional 29,797 shares during the last quarter. Bank of Montreal Can grew its holdings in Stellantis by 33.4% during the 3rd quarter. Bank of Montreal Can now owns 1,704,996 shares of the company's stock worth $23,955,000 after acquiring an additional 426,445 shares during the last quarter. FMR LLC grew its holdings in Stellantis by 4.9% during the 3rd quarter. FMR LLC now owns 3,137,594 shares of the company's stock worth $44,083,000 after acquiring an additional 145,583 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Stellantis by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,980,732 shares of the company's stock valued at $27,429,000 after acquiring an additional 193,653 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Stellantis by 5.9% during the third quarter. Captrust Financial Advisors now owns 3,233,320 shares of the company's stock valued at $45,328,000 after acquiring an additional 181,052 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler cut shares of Stellantis from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $13.00 in a research note on Thursday, March 20th. TD Cowen initiated coverage on Stellantis in a research report on Friday, March 7th. They issued a "hold" rating and a $13.00 price target on the stock. Finally, Cowen began coverage on Stellantis in a research report on Thursday, March 6th. They set a "hold" rating for the company. Nine investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.27.

Stellantis Trading Down 7.5 %

STLA stock traded down $0.84 during mid-day trading on Thursday, reaching $10.43. The company's stock had a trading volume of 13,054,389 shares, compared to its average volume of 14,384,829. Stellantis has a 12 month low of $10.41 and a 12 month high of $27.56. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The business's 50 day moving average price is $12.84 and its 200 day moving average price is $13.21. The company has a market cap of $31.53 billion, a price-to-earnings ratio of 3.06 and a beta of 1.64.

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.