Stellantis (NYSE:STLA) Stake Cut by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lowered its stake in Stellantis (NYSE:STLA) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,534,288 shares of the company’s stock after selling 13,473 shares during the quarter. Stellantis makes up 2.2% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 10th largest position. Cookson Peirce & Co. Inc.’s holdings in Stellantis were worth $35,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Stellantis by 553.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 81,067 shares of the company’s stock valued at $1,319,000 after acquiring an additional 68,660 shares during the last quarter. US Bancorp DE increased its stake in Stellantis by 3.2% in the 1st quarter. US Bancorp DE now owns 25,689 shares of the company’s stock worth $418,000 after purchasing an additional 802 shares during the period. HighTower Advisors LLC increased its stake in Stellantis by 13.6% in the 1st quarter. HighTower Advisors LLC now owns 25,936 shares of the company’s stock worth $422,000 after purchasing an additional 3,108 shares during the period. PNC Financial Services Group Inc. increased its stake in Stellantis by 14.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 34,029 shares of the company’s stock worth $554,000 after purchasing an additional 4,276 shares during the period. Finally, BlackRock Inc. increased its stake in Stellantis by 34.8% in the 1st quarter. BlackRock Inc. now owns 1,959,142 shares of the company’s stock worth $31,876,000 after purchasing an additional 505,920 shares during the period. Institutional investors own 59.48% of the company’s stock.

Stellantis Stock Down 1.6 %

STLA stock traded down $0.41 during midday trading on Tuesday, hitting $25.84. The stock had a trading volume of 2,980,447 shares, compared to its average volume of 5,446,008. The firm has a market cap of $80.95 billion, a price-to-earnings ratio of 4.24, a price-to-earnings-growth ratio of 0.33 and a beta of 1.60. The business has a 50-day moving average of $26.80 and a two-hundred day moving average of $23.09. Stellantis has a 52-week low of $15.07 and a 52-week high of $29.51. 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 business also recently announced a 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. Stellantis’s dividend payout ratio (DPR) is 27.05%.

Insiders Place Their Bets

In related news, major shareholder N.V. Stellantis bought 750,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $5.19 per share, with a total value of $3,892,500.00. Following the completion of the acquisition, the insider now owns 39,351,720 shares of the company’s stock, valued at approximately $204,235,426.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have purchased 3,150,000 shares of company stock valued at $15,724,500.

Wall Street Analyst Weigh In

A number of brokerages have commented on STLA. Nomura reaffirmed a “neutral” rating on shares of Stellantis in a research note on Wednesday, March 13th. Wolfe Research assumed coverage on Stellantis in a research note on Thursday, February 1st. They set an “outperform” rating on the stock. Morgan Stanley boosted their target price on Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a research note on Thursday, April 11th. HSBC cut Stellantis from a “buy” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Berenberg Bank reissued a “hold” rating on shares of Stellantis in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.28.

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.