Sovereign Investment Advisors LLC Purchases Shares of 5,346 Corteva, Inc. (NYSE:CTVA)

Sovereign Investment Advisors LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,346 shares of the company's stock, valued at approximately $305,000.

A number of other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after acquiring an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after acquiring an additional 157 shares in the last quarter. Beacon Capital Management LLC raised its holdings in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock valued at $76,000 after acquiring an additional 158 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock valued at $257,000 after acquiring an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc raised its holdings in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock valued at $180,000 after acquiring an additional 166 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Corteva Price Performance

CTVA traded down $0.60 on Thursday, reaching $61.86. The company had a trading volume of 2,684,765 shares, compared to its average volume of 3,039,076. The company has a fifty day moving average of $62.25 and a 200-day moving average of $59.79. The company has a market capitalization of $42.41 billion, a P/E ratio of 47.95, a PEG ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. Corteva's dividend payout ratio is presently 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research reports. KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Royal Bank of Canada increased their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Oppenheimer increased their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Bank of America increased their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Corteva currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

About Corteva

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.