Bank of Italy Grows Holdings in Stellantis N.V. $STLA

Bank of Italy lifted its stake in Stellantis N.V. (NYSE:STLA) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,630,307 shares of the company’s stock after acquiring an additional 3,800,000 shares during the period. Stellantis accounts for approximately 16.3% of Bank of Italy’s holdings, making the stock its 2nd biggest position. Bank of Italy’s holdings in Stellantis were worth $338,212,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in Stellantis during the 2nd quarter valued at $28,000. Atlantic Union Bankshares Corp bought a new stake in shares of Stellantis in the 2nd quarter worth $37,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Stellantis by 137.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 5,524 shares of the company’s stock valued at $52,000 after buying an additional 3,202 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Stellantis by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 6,286 shares of the company’s stock valued at $63,000 after buying an additional 2,448 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Stellantis during the second quarter worth about $74,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. HSBC reissued a “hold” rating on shares of Stellantis in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d)” rating on shares of Stellantis in a report on Wednesday, January 21st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $9.90 price target on shares of Stellantis in a report on Wednesday, January 14th. DZ Bank upgraded Stellantis from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, Zacks Research cut Stellantis from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.77.

Stellantis Trading Up 0.1%

Shares of STLA stock opened at $9.87 on Friday. Stellantis N.V. has a 1-year low of $8.39 and a 1-year high of $14.28. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $10.80 and its 200-day simple moving average is $10.18.

Stellantis (NYSE:STLA) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($1.32). The business had revenue of $87.44 billion during the quarter, compared to analysts’ expectations of $87.94 billion. On average, sell-side analysts expect that Stellantis N.V. will post 2.3 earnings per share for the current fiscal year.

Stellantis Profile

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.