Bronte Capital Management Pty Ltd. Sells 18,226 Shares of Corteva, Inc. (NYSE:CTVA)

Bronte Capital Management Pty Ltd. lowered its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 576,194 shares of the company's stock after selling 18,226 shares during the period. Corteva makes up approximately 0.0% of Bronte Capital Management Pty Ltd.'s holdings, making the stock its 19th biggest position. Bronte Capital Management Pty Ltd. owned about 0.08% of Corteva worth $33,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CWA Asset Management Group LLC acquired a new position in Corteva in the 3rd quarter valued at approximately $273,000. Atria Investments Inc increased its stake in shares of Corteva by 1.6% in the 3rd quarter. Atria Investments Inc now owns 80,131 shares of the company's stock valued at $4,711,000 after buying an additional 1,256 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Corteva in the third quarter worth about $205,000. Ashton Thomas Securities LLC acquired a new position in shares of Corteva in the 3rd quarter valued at $63,000. Finally, Nations Financial Group Inc. IA ADV grew its position in shares of Corteva by 42.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,608 shares of the company's stock worth $389,000 after buying an additional 1,959 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Shares of NYSE CTVA traded up $1.31 during mid-day trading on Friday, hitting $59.90. 2,987,577 shares of the stock traded hands, compared to its average volume of 3,040,275. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The firm has a 50 day simple moving average of $61.96 and a two-hundred day simple moving average of $59.71. 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 $41.06 billion, a PE ratio of 46.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

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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 research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Corteva's dividend payout ratio (DPR) is 52.71%.

Corteva announced that its Board of Directors has approved a share buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday. They set a "buy" rating and a $71.00 price target on the stock. Oppenheimer raised their price target on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, BNP Paribas upgraded shares of Corteva to a "hold" rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 owns 11,347 shares of the company's stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by insiders.

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.