Bessemer Group Inc. Acquires 956,775 Shares of Corteva, Inc. (NYSE:CTVA)

Bessemer Group Inc. lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 44.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,090,839 shares of the company's stock after purchasing an additional 956,775 shares during the quarter. Bessemer Group Inc. owned 0.45% of Corteva worth $176,053,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Oak Thistle LLC acquired a new stake in shares of Corteva in the fourth quarter valued at $1,514,000. Van ECK Associates Corp increased 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 valued at $537,031,000 after acquiring an additional 525,531 shares in the last quarter. Swedbank AB raised its stake in shares of Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after acquiring an additional 237,764 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after purchasing an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in shares of Corteva by 54.5% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock valued at $5,474,000 after purchasing an additional 33,886 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of the firm's 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 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 is accessible through this link. Insiders own 0.14% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target on the stock. KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Barclays raised their target price on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Finally, Oppenheimer boosted their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $68.06.

Corteva Stock Performance

NYSE CTVA traded up $1.33 on Friday, hitting $59.27. 3,067,223 shares of the stock traded hands, compared to its average volume of 3,306,914. 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 business's fifty day moving average is $61.27 and its two-hundred day moving average is $60.25. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a market capitalization of $40.48 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA - Get Free Report) last announced 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 net margin of 5.36% and a return on equity of 7.19%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared 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 was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Corteva's dividend payout ratio (DPR) is currently 52.71%.

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.