Sanford C. Bernstein Initiates Coverage on Stellantis (NYSE:STLA)

Sanford C. Bernstein assumed coverage on shares of Stellantis (NYSE:STLA) in a research report released on Friday, MarketBeat reports. The firm issued a market perform rating and a $23.50 target price on the stock.

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

Stellantis Stock Performance

STLA stock opened at $19.95 on Friday. Stellantis has a 1 year low of $17.19 and a 1 year high of $29.51. The stock has a market capitalization of $62.48 billion, a price-to-earnings ratio of 3.53, a PEG ratio of 0.27 and a beta of 1.63. 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 fifty day moving average is $21.95 and its two-hundred day moving average is $23.92.

Stellantis Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were paid a $1.147 dividend. This represents a dividend yield of 4.55%. The ex-dividend date was Monday, April 22nd. Stellantis’s dividend payout ratio is presently 29.38%.

Institutional Investors Weigh In On Stellantis

A number of institutional investors and hedge funds have recently bought and sold shares of STLA. Norges Bank acquired a new position in shares of Stellantis in the 4th quarter worth $832,785,000. Capital International Investors boosted its position in shares of Stellantis by 329.3% in the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after purchasing an additional 17,261,955 shares during the period. Vanguard Group Inc. increased its stake in Stellantis by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 83,232,805 shares of the company’s stock worth $1,592,244,000 after purchasing an additional 7,883,816 shares in the last quarter. Capital World Investors raised its holdings in Stellantis by 63.4% during the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after buying an additional 5,336,868 shares during the period. Finally, M&G Plc purchased a new stake in Stellantis during the first quarter valued at about $128,254,000. 59.48% of the stock is 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.