Korea Investment CORP Boosts Stock Position in Stellantis (NYSE:STLA)

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

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

Stellantis Trading Down 4.0 %

Shares of STLA opened at $11.34 on Friday. Stellantis has a twelve month low of $11.29 and a twelve month high of $28.49. The stock has a market cap of $34.27 billion, a PE ratio of 3.32 and a beta of 1.64. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $12.95 and its 200-day moving average price is $13.30.

Wall Street Analyst Weigh In

STLA has been the topic of several research reports. TD Cowen started coverage on Stellantis in a research note on Friday, March 7th. They issued a “hold” rating and a $13.00 target price on the stock. Cowen started coverage on Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating on the stock. Finally, Piper Sandler lowered shares of Stellantis from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $13.00 in a research report on Thursday, March 20th. Nine investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Stellantis presently has an average rating of “Hold” and an average price target of $19.27.

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.