Allstate Corp Takes $1.18 Million Position in Corteva, Inc. (NYSE:CTVA)

Allstate Corp bought a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,694 shares of the company's stock, valued at approximately $1,179,000.

Several other institutional investors also recently modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new stake in Corteva during the 4th quarter worth $25,000. Noble Wealth Management PBC bought a new stake in shares of Corteva in the fourth quarter worth about $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva during the fourth quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at about $32,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at approximately $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTVA. Barclays upped their price target on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. UBS Group dropped their price target on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. BNP Paribas upgraded Corteva to a "hold" rating in a report on Monday, February 10th. Finally, Citigroup boosted their target price on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.06.

Remove Ads

Corteva Stock Performance

Shares of Corteva stock traded down $5.64 during trading on Friday, hitting $55.66. 6,391,602 shares of the stock were exchanged, compared to its average volume of 3,244,070. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average price of $62.36 and a 200-day moving average price of $60.26. The stock has a market capitalization of $38.02 billion, a price-to-earnings ratio of 43.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24.

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

Corteva Dividend Announcement

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

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.

Corteva Company 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.