Thrivent Financial for Lutherans lifted its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,039,578 shares of the company's stock after acquiring an additional 14,312 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.15% of Corteva worth $59,232,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. Flagship Wealth Advisors LLC bought a new position in shares of Corteva during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new position in Corteva during the 4th quarter worth $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Corteva during the 4th quarter worth $34,000. Institutional investors own 81.54% of the company's stock.
Insider Buying and Selling
In related news, insider Brian Titus sold 26,560 shares of the firm'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 transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. BNP Paribas upgraded Corteva to a "hold" rating in a research note on Monday, February 10th. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.
Check Out Our Latest Stock Report on CTVA
Corteva Stock Performance
Shares of NYSE CTVA traded up $0.40 during trading on Monday, reaching $62.12. 2,117,827 shares of the company traded hands, compared to its average volume of 3,045,524. The stock has a market cap of $42.59 billion, a P/E ratio of 48.16, a PEG ratio of 1.68 and a beta of 0.79. The firm's fifty day simple moving average is $62.44 and its 200 day simple moving average is $59.90. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.
Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results 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%. As a group, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.
Corteva Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. 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 1.09%. Corteva's payout ratio is 52.71%.
Corteva Company Profile
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Free Report)
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.
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