Korea Investment CORP Acquires 317,091 Shares of Stellantis (NYSE:STLA)

Korea Investment CORP increased its stake in Stellantis (NYSE:STLA) by 32.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,305,558 shares of the company’s stock after purchasing an additional 317,091 shares during the period. Korea Investment CORP’s holdings in Stellantis were worth $17,020,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of STLA. Geneos Wealth Management Inc. purchased a new position in Stellantis in the 4th quarter worth approximately $26,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Stellantis by 67.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock worth $48,000 after acquiring an additional 1,489 shares during the last quarter. Spire Wealth Management grew its position in Stellantis by 29.7% in the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company’s stock worth $69,000 after acquiring an additional 1,211 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Stellantis by 160.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company’s stock valued at $85,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Stellantis during the fourth quarter valued at about $85,000. 59.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Cowen began coverage on Stellantis in a report on Thursday, March 6th. They issued a “hold” rating for the company. TD Cowen began coverage on shares of Stellantis in a research report on Friday, March 7th. They set a “hold” rating and a $13.00 price target on the stock. Finally, Piper Sandler lowered shares of Stellantis from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. Nine research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.27.

Stellantis Stock Performance

NYSE:STLA opened at $11.34 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. Stellantis has a fifty-two week low of $11.29 and a fifty-two week high of $28.49. The business has a 50 day moving average price of $12.95 and a 200-day moving average price of $13.30. The firm has a market cap of $34.27 billion, a PE ratio of 3.32 and a beta of 1.64.

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.