Cibc World Markets Corp Raises Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Cibc World Markets Corp lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 46.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 372,634 shares of the company's stock after acquiring an additional 118,399 shares during the period. Cibc World Markets Corp owned 0.05% of Corteva worth $21,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTVA. State Street Corp lifted its position in Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company's stock valued at $2,015,914,000 after buying an additional 768,519 shares during the period. Geode Capital Management LLC increased its stake in shares of Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock worth $1,037,505,000 after acquiring an additional 355,206 shares in the last quarter. Franklin Resources Inc. boosted its stake in Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock worth $860,746,000 after acquiring an additional 856,007 shares in the last quarter. Harris Associates L P boosted its stake in Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company's stock worth $844,360,000 after acquiring an additional 200,917 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company's stock valued at $631,863,000 after purchasing an additional 203,126 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group cut 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. Barclays increased 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 lifted 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. Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Citigroup lifted their price objective on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Corteva Stock Performance

Shares of CTVA stock traded down $0.13 during mid-day trading on Friday, reaching $61.70. 6,880,464 shares of the company's stock traded hands, compared to its average volume of 3,599,125. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The firm has a market capitalization of $42.30 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a 50 day moving average price of $62.34 and a two-hundred day moving average price of $59.81.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 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, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 1.10%. Corteva's payout ratio is 52.71%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction on 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 transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% 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.