Corteva, Inc. (NYSE:CTVA) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,382,946 shares of the company's stock after selling 320,825 shares during the period. Geode Capital Management LLC owned approximately 2.53% of Corteva worth $987,636,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new position in Corteva during the 4th quarter worth $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the fourth quarter worth about $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Corteva in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, 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 ownership of the stock. 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.

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Corteva Stock Performance

Corteva stock traded down $0.43 during trading hours on Monday, reaching $55.36. 2,054,224 shares of the stock were exchanged, compared to its average volume of 3,243,508. The stock has a market cap of $37.81 billion, a P/E ratio of 42.69, a P/E/G ratio of 1.68 and a beta of 0.73. The firm's 50 day moving average is $62.36 and its 200 day moving average is $60.31. 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, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data 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%. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued 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 1.23%. Corteva's dividend payout ratio (DPR) is 52.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTVA shares. Citigroup raised their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. The Goldman Sachs Group initiated coverage on Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. Barclays upped their price target on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Bank of America raised their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.06.

Corteva 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.