Stellantis (NYSE:STLA) Receives New Coverage from Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Stellantis (NYSE:STLA) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage issued a market perform rating and a $23.50 target price on the stock.

Several other analysts have also issued reports on the stock. Piper Sandler initiated coverage on shares of Stellantis in a research report on Friday, March 15th. They issued an overweight rating and a $39.00 price target on the stock. Berenberg Bank reaffirmed a hold rating on shares of Stellantis in a report on Tuesday, March 26th. Morgan Stanley boosted their price objective on Stellantis from $26.00 to $30.40 and gave the company an overweight rating in a research report on Thursday, April 11th. Nomura reaffirmed a neutral rating on shares of Stellantis in a research report on Wednesday, March 13th. Finally, Barclays raised shares of Stellantis to a strong-buy rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $29.55.

Stellantis Price Performance

Shares of STLA stock opened at $19.85 on Friday. The stock has a 50 day moving average of $22.04 and a 200-day moving average of $23.93. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Stellantis has a 12 month low of $17.19 and a 12 month high of $29.51.

Stellantis Announces Dividend

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

Hedge Funds Weigh In On Stellantis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Stellantis by 1.2% in the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock valued at $2,372,059,000 after acquiring an additional 972,232 shares during the last quarter. Norges Bank bought a new position in Stellantis in the 4th quarter valued at $832,785,000. Capital International Investors boosted its stake in Stellantis by 329.3% in the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock worth $639,609,000 after purchasing an additional 17,261,955 shares in the last quarter. Capital World Investors grew its holdings in shares of Stellantis by 63.4% during the first quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after purchasing an additional 5,336,868 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Stellantis by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock valued at $326,380,000 after buying an additional 548,929 shares in the last quarter. 59.48% of the stock is currently owned by institutional investors and hedge funds.

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.