CIBC Private Wealth Group LLC Acquires 4,137 Shares of Corteva, Inc. (NYSE:CTVA)

CIBC Private Wealth Group LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,073 shares of the company's stock after purchasing an additional 4,137 shares during the period. CIBC Private Wealth Group LLC's holdings in Corteva were worth $1,490,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after buying an additional 646,459 shares during the last quarter. State Street Corp lifted its position in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company's stock worth $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. Geode Capital Management LLC boosted its stake in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock valued at $1,037,505,000 after purchasing an additional 355,206 shares during the period. Franklin Resources Inc. boosted its position in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock valued at $860,746,000 after acquiring an additional 856,007 shares during the period. Finally, Van ECK Associates Corp grew its position in Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after purchasing an additional 525,531 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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Corteva Stock Down 9.2 %

CTVA stock traded down $5.64 during trading hours on Friday, reaching $55.66. 6,391,602 shares of the stock were exchanged, compared to its average volume of 3,247,942. The firm's 50-day moving average is $62.36 and its 200-day moving average is $60.26. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a market cap of $38.02 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data 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%. On average, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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 owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTVA. BNP Paribas upgraded Corteva to a "hold" rating in a research report on Monday, February 10th. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Bank of America upped their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Barclays upped their price objective on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Finally, 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. One 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. According to data from MarketBeat.com, Corteva presently 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.