Sycomore Asset Management Decreases Holdings in Stellantis (NYSE:STLA)

Sycomore Asset Management trimmed its position in Stellantis (NYSE:STLA) by 18.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 934,506 shares of the company’s stock after selling 208,519 shares during the quarter. Stellantis accounts for 4.7% of Sycomore Asset Management’s holdings, making the stock its 4th largest holding. Sycomore Asset Management’s holdings in Stellantis were worth $21,948,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in STLA. Harvest Fund Management Co. Ltd grew its stake in shares of Stellantis by 2,063.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 13,086 shares of the company’s stock worth $306,000 after buying an additional 12,481 shares during the last quarter. Glenorchy Capital Ltd bought a new stake in shares of Stellantis during the fourth quarter worth $326,000. Yousif Capital Management LLC grew its stake in shares of Stellantis by 7.0% during the fourth quarter. Yousif Capital Management LLC now owns 54,985 shares of the company’s stock worth $1,282,000 after buying an additional 3,585 shares during the last quarter. CWM LLC grew its stake in shares of Stellantis by 11.6% during the fourth quarter. CWM LLC now owns 6,439 shares of the company’s stock worth $150,000 after buying an additional 669 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Stellantis by 9.6% during the fourth quarter. Signaturefd LLC now owns 78,222 shares of the company’s stock worth $1,824,000 after buying an additional 6,854 shares during the last quarter. 59.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STLA. Sanford C. Bernstein cut shares of Stellantis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 28th. HSBC downgraded Stellantis from a “buy” rating to a “hold” rating in a report on Wednesday, January 24th. Berenberg Bank restated a “hold” rating on shares of Stellantis in a report on Tuesday, March 26th. Redburn Atlantic assumed coverage on Stellantis in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, Morgan Stanley increased their price objective on Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Stellantis currently has a consensus rating of “Hold” and an average target price of $30.28.

Stellantis Stock Performance

STLA traded down $0.10 during trading on Wednesday, reaching $24.86. 5,318,270 shares of the stock traded hands, compared to its average volume of 5,484,185. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.24. The stock’s 50-day moving average is $27.00 and its 200 day moving average is $23.37. Stellantis has a 12 month low of $15.07 and a 12 month high of $29.51.

Stellantis Announces Dividend

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

Insider Buying and Selling at Stellantis

In related news, major shareholder N.V. Stellantis acquired 800,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $4.83 per share, with a total value of $3,864,000.00. Following the transaction, the insider now directly owns 36,251,720 shares of the company’s stock, valued at $175,095,807.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have bought 3,150,000 shares of company stock valued at $15,724,500.

Stellantis Company 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.