Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Stellantis (NYSE:STLA)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Stellantis (NYSE:STLA) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,980,732 shares of the company’s stock after purchasing an additional 193,653 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stellantis were worth $27,429,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STLA. Sequoia Financial Advisors LLC grew its position in Stellantis by 4.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,533 shares of the company’s stock worth $288,000 after purchasing an additional 636 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Stellantis by 6.0% during the first quarter. EverSource Wealth Advisors LLC now owns 11,519 shares of the company’s stock valued at $326,000 after buying an additional 656 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of Stellantis by 7.0% during the second quarter. Legacy Capital Group California Inc. now owns 10,777 shares of the company’s stock valued at $214,000 after buying an additional 707 shares during the last quarter. CWM LLC increased its position in shares of Stellantis by 7.6% in the 2nd quarter. CWM LLC now owns 12,424 shares of the company’s stock valued at $247,000 after acquiring an additional 874 shares during the period. Finally, Evergreen Capital Management LLC raised its stake in Stellantis by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 41,257 shares of the company’s stock worth $819,000 after acquiring an additional 971 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Stock Performance

NYSE STLA opened at $13.22 on Friday. The stock has a market capitalization of $41.40 billion, a price-to-earnings ratio of 4.20, a PEG ratio of 0.41 and a beta of 1.62. The stock has a 50-day moving average of $13.54 and a 200 day moving average of $16.97. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Stellantis has a twelve month low of $12.57 and a twelve month high of $29.51.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on STLA shares. Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Barclays lowered shares of Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $16.44 price objective (down from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. Evercore ISI assumed coverage on shares of Stellantis in a report on Monday, November 11th. They set an “inline” rating for the company. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of Stellantis in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Stellantis currently has a consensus rating of “Hold” and an average price target of $27.34.

Stellantis 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.