DRW Securities LLC Acquires Shares of 6,680 Corteva, Inc. (NYSE:CTVA)

DRW Securities LLC acquired a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,680 shares of the company's stock, valued at approximately $380,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Corteva by 129.6% during the third quarter. Wellington Management Group LLP now owns 377,960 shares of the company's stock valued at $22,220,000 after buying an additional 213,377 shares during the period. MML Investors Services LLC raised its stake in Corteva by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 91,727 shares of the company's stock valued at $5,393,000 after purchasing an additional 2,921 shares during the last quarter. Geode Capital Management LLC grew its holdings in Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock valued at $1,037,505,000 after buying an additional 355,206 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Corteva by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,931 shares of the company's stock valued at $759,000 after purchasing an additional 350 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Corteva by 0.8% in the third quarter. Toronto Dominion Bank now owns 349,596 shares of the company's stock valued at $20,553,000 after buying an additional 2,660 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

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Insider Activity

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research reports. Oppenheimer boosted their price target on shares of Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price on the stock. KeyCorp upped their target price on Corteva from $70.00 to $71.00 and gave the stock an "overweight" rating in a research report on Monday. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of "Moderate Buy" and an average target price of $68.13.

Corteva Price Performance

Shares of NYSE:CTVA traded up $0.26 during trading on Wednesday, reaching $59.96. 1,097,332 shares of the company traded hands, compared to its average volume of 3,290,169. The company's 50 day moving average is $61.15 and its two-hundred day moving average is $60.27. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The firm has a market capitalization of $40.95 billion, a PE ratio of 46.48, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA - Get Free Report) last announced its 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 return on equity of 7.19% and a net margin of 5.36%. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently announced 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio is currently 52.71%.

About Corteva

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.