Wellington Management Group LLP Makes New Investment in Stellantis (NYSE:STLA)

Wellington Management Group LLP purchased a new stake in Stellantis (NYSE:STLA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 298,007 shares of the company's stock, valued at approximately $4,126,000.

A number of other hedge funds have also modified their holdings of the business. Mediolanum International Funds Ltd boosted its position in shares of Stellantis by 17.4% during the 3rd quarter. Mediolanum International Funds Ltd now owns 670,893 shares of the company's stock worth $9,426,000 after purchasing an additional 99,388 shares during the period. FMR LLC boosted its position in shares of Stellantis by 4.9% during the third quarter. FMR LLC now owns 3,137,594 shares of the company's stock worth $44,083,000 after buying an additional 145,583 shares during the period. Sound Income Strategies LLC boosted its position in shares of Stellantis by 47.1% during the third quarter. Sound Income Strategies LLC now owns 280,010 shares of the company's stock worth $3,934,000 after buying an additional 89,594 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Stellantis by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,980,732 shares of the company's stock valued at $27,429,000 after buying an additional 193,653 shares in the last quarter. Finally, AM Squared Ltd purchased a new stake in shares of Stellantis in the 3rd quarter valued at $641,000. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on STLA. Barclays cut Stellantis from an "overweight" rating to an "equal weight" rating in a report on Thursday, October 3rd. Royal Bank of Canada restated a "sector perform" rating on shares of Stellantis in a report on Friday, October 4th. Wolfe Research reiterated a "peer perform" rating on shares of Stellantis in a report on Thursday, September 5th. Finally, Evercore ISI started coverage on shares of Stellantis in a research note on Monday, November 11th. They issued an "inline" rating for the company. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.34.

Stellantis Stock Down 4.0 %

Shares of STLA traded down $0.54 during midday trading on Wednesday, reaching $12.81. The stock had a trading volume of 8,623,921 shares, compared to its average volume of 7,247,311. The company has a market cap of $40.13 billion, a price-to-earnings ratio of 4.20, a PEG ratio of 0.45 and a beta of 1.60. The company's fifty day simple moving average is $13.29 and its two-hundred day simple moving average is $16.10. Stellantis has a 1-year low of $12.12 and a 1-year high of $29.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85.

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.