Capital World Investors Acquires 12,381,436 Shares of Corteva, Inc. (NYSE:CTVA)

Capital World Investors grew its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 2,874.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,812,151 shares of the company's stock after purchasing an additional 12,381,436 shares during the period. Capital World Investors owned approximately 1.86% of Corteva worth $729,780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. Chicago Partners Investment Group LLC raised its holdings in Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after buying an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of 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 during the period. Beacon Capital Management LLC boosted its holdings in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock valued at $76,000 after purchasing an additional 158 shares during the period. Lake Street Advisors Group LLC increased its stake in Corteva by 3.7% during 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 during the period. Finally, Roble Belko & Company Inc grew its holdings in shares of Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock worth $180,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

CTVA has been the topic of several analyst reports. Citigroup boosted their price target on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Oppenheimer upped their price objective on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group started coverage on Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target on the stock. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective for the company in a research note on Monday, March 31st. Finally, Wells Fargo & Company boosted 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $68.13.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Corteva Trading Down 0.5 %

NYSE:CTVA traded down $0.32 on Friday, hitting $61.39. 685,922 shares of the stock were exchanged, compared to its average volume of 3,310,464. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock has a market capitalization of $41.93 billion, a price-to-earnings ratio of 47.68, a P/E/G ratio of 1.68 and a beta of 0.73. The company's 50-day moving average price is $60.77 and its 200 day moving average price is $60.35.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. On average, equities research analysts forecast 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. Shareholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.11%. Corteva's dividend payout ratio (DPR) is currently 52.71%.

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.