Wealth Enhancement Advisory Services LLC Sells 26,680 Shares of Stellantis (NYSE:STLA)

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of Stellantis (NYSE:STLA) by 61.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,922 shares of the company’s stock after selling 26,680 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Stellantis were worth $221,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Stellantis by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 84,551,129 shares of the company’s stock valued at $1,099,842,000 after purchasing an additional 2,102,528 shares during the period. Norges Bank bought a new stake in shares of Stellantis during the 4th quarter valued at $609,076,000. Marshall Wace LLP raised its stake in shares of Stellantis by 72,446.0% during the 4th quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock valued at $226,899,000 after purchasing an additional 17,376,176 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Stellantis by 24.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,245,300 shares of the company’s stock valued at $185,626,000 after purchasing an additional 2,839,709 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Stellantis by 25.7% during the 4th quarter. Franklin Resources Inc. now owns 9,563,705 shares of the company’s stock valued at $124,309,000 after purchasing an additional 1,958,142 shares during the period. 59.48% of the stock is currently owned by institutional investors.

Stellantis Price Performance

STLA opened at $9.86 on Tuesday. The stock has a 50-day moving average price of $9.86 and a 200-day moving average price of $11.72. Stellantis has a 12-month low of $8.39 and a 12-month high of $21.05. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $29.82 billion, a P/E ratio of 2.89 and a beta of 1.47.

Stellantis Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 24th were issued a $0.5032 dividend. This represents a dividend yield of 6.07%. The ex-dividend date was Wednesday, April 23rd. Stellantis’s payout ratio is currently 20.82%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. DZ Bank upgraded Stellantis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 22nd. 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. Redburn Atlantic lowered Stellantis from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 22nd. UBS Group lowered Stellantis from a “buy” rating to a “neutral” rating in a research note on Monday, April 14th. Finally, Piper Sandler lowered Stellantis from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $13.00 in a research note on Thursday, March 20th. Twelve analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.49.

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.