Bristol Gate Capital Partners Inc. Decreases Position in Corteva, Inc. (NYSE:CTVA)

Bristol Gate Capital Partners Inc. decreased its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,722,139 shares of the company's stock after selling 35,361 shares during the period. Corteva accounts for approximately 4.8% of Bristol Gate Capital Partners Inc.'s portfolio, making the stock its 6th biggest position. Bristol Gate Capital Partners Inc. owned about 0.25% of Corteva worth $98,093,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Oak Thistle LLC bought a new stake in Corteva in the fourth quarter worth $1,514,000. Van ECK Associates Corp increased its holdings in shares of Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after acquiring an additional 525,531 shares during the last quarter. Swedbank AB raised its stake in shares of Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company's stock valued at $39,624,000 after acquiring an additional 237,764 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after purchasing an additional 488,181 shares during the period. Finally, S.E.E.D. Planning Group LLC grew its holdings in Corteva by 54.5% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock valued at $5,474,000 after purchasing an additional 33,886 shares during 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 business'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 transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Corteva Price Performance

Corteva stock traded up $1.33 during mid-day trading on Friday, hitting $59.27. 3,067,223 shares of the company were exchanged, compared to its average volume of 3,306,914. The company has a market capitalization of $40.48 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The business has a fifty day moving average of $61.27 and a 200 day moving average of $60.25. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

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 return on equity of 7.19% and a net margin of 5.36%. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. 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 1.15%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. 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 research report on Friday, February 7th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research note on Monday, March 31st. KeyCorp lifted their price target on Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Finally, Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.06.

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.