Teachers Retirement System of The State of Kentucky Lowers Stake in Stellantis (NYSE:STLA)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Stellantis (NYSE:STLA) by 1.8% in the first quarter, HoldingsChannel.com reports. The firm owned 149,400 shares of the company’s stock after selling 2,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Stellantis were worth $4,228,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STLA. Norges Bank purchased a new position in shares of Stellantis during the 4th quarter worth approximately $832,785,000. Capital International Investors boosted its position in shares of Stellantis by 329.3% during the 1st 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 during the period. Capital World Investors boosted its position in shares of 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 purchasing an additional 5,336,868 shares during the period. M&G Plc acquired a new stake in Stellantis during the 1st quarter worth approximately $128,254,000. Finally, TOMS Capital Investment Management LP acquired a new stake in Stellantis during the 4th quarter worth approximately $106,339,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Stellantis Trading Down 1.2 %

Shares of STLA traded down $0.19 during midday trading on Friday, reaching $16.13. The stock had a trading volume of 11,846,127 shares, compared to its average volume of 8,290,042. Stellantis has a 1-year low of $15.82 and a 1-year high of $29.51. The company’s fifty day simple moving average is $20.20 and its two-hundred day simple moving average is $23.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.95.

Analyst Ratings Changes

STLA has been the topic of a number of research reports. Sanford C. Bernstein initiated coverage on shares of Stellantis in a report on Friday, June 28th. They set a “market perform” rating and a $23.50 target price on the stock. Nomura Securities upgraded shares of Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Morgan Stanley increased their target price on shares of Stellantis from $26.00 to $30.40 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Barclays upgraded shares of Stellantis to a “strong-buy” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Stellantis currently has a consensus rating of “Moderate Buy” and an average price target of $30.97.

About Stellantis

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.