Bank of New York Mellon Corp Decreases Stake in Stellantis (NYSE:STLA)

Bank of New York Mellon Corp lessened its stake in shares of Stellantis (NYSE:STLA) by 46.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,676,479 shares of the company’s stock after selling 8,325,336 shares during the quarter. Bank of New York Mellon Corp’s holdings in Stellantis were worth $126,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STLA. Franklin Resources Inc. increased its holdings in Stellantis by 74.7% during the 3rd quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company’s stock valued at $102,340,000 after purchasing an additional 3,252,492 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Stellantis by 34.3% during the fourth quarter. AustralianSuper Pty Ltd now owns 12,210,877 shares of the company’s stock valued at $159,495,000 after buying an additional 3,121,462 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Stellantis by 464.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,246,800 shares of the company’s stock valued at $45,618,000 after acquiring an additional 2,671,500 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Stellantis during the third quarter valued at approximately $26,679,000. Finally, Conifer Management L.L.C. lifted its stake in Stellantis by 26.4% in the third quarter. Conifer Management L.L.C. now owns 9,000,000 shares of the company’s stock worth $126,450,000 after acquiring an additional 1,880,000 shares during the period. Institutional investors own 59.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Evercore ISI began coverage on shares of Stellantis in a report on Monday, November 11th. They issued an “inline” rating for the company. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.34.

Stellantis Price Performance

Shares of STLA stock opened at $12.72 on Friday. The business’s fifty day moving average is $13.16 and its 200 day moving average is $13.84. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $38.44 billion, a price-to-earnings ratio of 3.73 and a beta of 1.58. Stellantis has a twelve month low of $12.12 and a twelve month high of $29.51.

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.