Channing Global Advisors LLC Reduces Stock Holdings in Stellantis (NYSE:STLA)

Channing Global Advisors LLC lessened its stake in Stellantis (NYSE:STLA) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,594 shares of the company’s stock after selling 4,721 shares during the quarter. Stellantis makes up approximately 3.6% of Channing Global Advisors LLC’s portfolio, making the stock its 8th biggest holding. Channing Global Advisors LLC’s holdings in Stellantis were worth $4,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in Stellantis by 100,358.0% during the 3rd quarter. Acadian Asset Management LLC now owns 20,993,704 shares of the company’s stock valued at $404,714,000 after acquiring an additional 20,972,806 shares during the period. Invesco Ltd. bought a new stake in Stellantis during the 3rd quarter valued at $232,047,000. Vanguard Group Inc. raised its holdings in Stellantis by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 83,232,805 shares of the company’s stock valued at $1,592,244,000 after acquiring an additional 7,883,816 shares during the period. Aviva PLC raised its holdings in Stellantis by 109.6% during the 3rd quarter. Aviva PLC now owns 2,139,219 shares of the company’s stock valued at $41,231,000 after acquiring an additional 1,118,699 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Stellantis during the 3rd quarter valued at $19,130,000. Institutional investors own 59.48% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder N.V. Stellantis purchased 750,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $5.19 per share, for a total transaction of $3,892,500.00. Following the completion of the acquisition, the insider now directly owns 39,351,720 shares in the company, valued at approximately $204,235,426.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have acquired 3,150,000 shares of company stock worth $15,724,500. 0.02% of the stock is currently owned by company insiders.

Stellantis Price Performance

STLA stock traded up $0.01 during trading on Friday, reaching $24.61. The company had a trading volume of 2,442,332 shares, compared to its average volume of 5,434,833. Stellantis has a 52 week low of $15.07 and a 52 week high of $29.51. The business has a 50 day moving average of $26.97 and a 200 day moving average of $23.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.24 and a quick ratio of 0.95.

Stellantis Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STLA. Redburn Atlantic began coverage on shares of Stellantis in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Nomura restated a “neutral” rating on shares of Stellantis in a research report on Wednesday, March 13th. Morgan Stanley upped their target price on shares of Stellantis from $26.00 to $30.40 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Sanford C. Bernstein downgraded shares of Stellantis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 28th. Finally, Piper Sandler began coverage on shares of Stellantis in a research note on Friday, March 15th. They issued an “overweight” rating and a $39.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Stellantis currently has an average rating of “Hold” and a consensus price target of $30.28.

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.