JPMorgan Chase & Co. Sells 1,365,925 Shares of Corteva, Inc. (NYSE:CTVA)

JPMorgan Chase & Co. lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 29.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,239,683 shares of the company's stock after selling 1,365,925 shares during the period. JPMorgan Chase & Co. owned approximately 0.47% of Corteva worth $184,532,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the 4th quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in shares of Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter worth $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. Oppenheimer boosted their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, BNP Paribas upgraded Corteva to a "hold" rating in a research report on Monday, February 10th. 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. According to MarketBeat, Corteva has an average rating of "Moderate Buy" and an average target price of $68.06.

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Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction 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 transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

Corteva Stock Down 9.2 %

NYSE:CTVA traded down $5.64 on Friday, hitting $55.66. 6,391,602 shares of the company's stock traded hands, compared to its average volume of 3,247,942. The company has a market cap of $38.02 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $62.36 and a 200-day moving average price of $60.29.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. 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 paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio (DPR) is presently 52.71%.

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.