Alliancebernstein L.P. Has $245.14 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Alliancebernstein L.P. decreased its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,303,687 shares of the company's stock after selling 317,983 shares during the quarter. Alliancebernstein L.P. owned about 0.63% of Corteva worth $245,138,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Corteva during the 4th quarter valued at about $251,892,000. Raymond James Financial Inc. acquired a new position in shares of Corteva during the fourth quarter worth approximately $161,052,000. Franklin Resources Inc. grew its holdings in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. State Street Corp increased its position in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company's stock valued at $2,015,914,000 after acquiring an additional 768,519 shares during the period. Finally, Vanguard Group Inc. raised its stake in Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after acquiring an additional 646,459 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTVA. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays raised their target price on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Citigroup raised their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Finally, Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.06.

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Corteva Stock Down 9.2 %

CTVA traded down $5.64 during midday trading on Friday, hitting $55.66. 6,391,602 shares of the company's stock traded hands, compared to its average volume of 3,247,942. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market cap of $38.02 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The stock's fifty day simple moving average is $62.36 and its 200-day simple moving average is $60.29.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio (DPR) is currently 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction on 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 $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company's stock.

Corteva Profile

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.