Corteva, Inc. (NYSE:CTVA) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury raised its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 80.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 252,433 shares of the company's stock after purchasing an additional 112,773 shares during the quarter. State of Tennessee Department of Treasury's holdings in Corteva were worth $14,379,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Corteva by 34.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 45,225 shares of the company's stock valued at $2,576,000 after acquiring an additional 11,565 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Corteva by 1.1% in the 4th quarter. MetLife Investment Management LLC now owns 182,124 shares of the company's stock valued at $10,374,000 after purchasing an additional 1,998 shares in the last quarter. Norinchukin Bank The grew its holdings in shares of Corteva by 15.2% during the 4th quarter. Norinchukin Bank The now owns 35,558 shares of the company's stock worth $2,025,000 after purchasing an additional 4,696 shares during the period. Ossiam increased its position in Corteva by 4,274.4% during the 4th quarter. Ossiam now owns 209,052 shares of the company's stock worth $11,908,000 after purchasing an additional 204,273 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Corteva by 67.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,775 shares of the company's stock valued at $1,297,000 after buying an additional 9,184 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the firm's 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 sale, the insider now 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

Corteva Stock Up 2.6 %

NYSE:CTVA opened at $60.65 on Wednesday. The stock has a 50-day simple moving average of $60.87 and a 200 day simple moving average of $60.32. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a market capitalization of $41.43 billion, a price-to-earnings ratio of 47.02, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. 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 (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. Corteva's payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTVA shares. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Royal Bank of Canada raised their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Barclays upped their target price on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Finally, BNP Paribas upgraded Corteva to a "hold" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Corteva currently has an average rating of "Moderate Buy" and a consensus price target of $68.13.

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.

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