FIL Ltd grew its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,672,061 shares of the company's stock after buying an additional 51,764 shares during the period. FIL Ltd owned 0.39% of Corteva worth $152,201,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oak Thistle LLC purchased a new stake in Corteva during the 4th quarter valued at about $1,514,000. Van ECK Associates Corp boosted its position in Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after buying an additional 525,531 shares during the last quarter. Swedbank AB increased its holdings in Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after buying an additional 237,764 shares during the period. Assenagon Asset Management S.A. raised its position in Corteva by 755.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after buying an additional 488,181 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its stake in Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock valued at $5,474,000 after acquiring an additional 33,886 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Corteva
In other Corteva news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Oppenheimer raised their target price on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research report on Monday, March 31st. The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price for the company. Finally, UBS Group lowered their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and an average price target of $68.06.
View Our Latest Report on Corteva
Corteva Price Performance
CTVA traded up $1.33 on Friday, hitting $59.27. 3,067,223 shares of the company's stock were exchanged, compared to its average volume of 3,306,914. The firm has a 50-day moving average price of $61.27 and a 200-day moving average price of $60.25. The stock has a market cap of $40.48 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two 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 (EPS) for the quarter, missing the consensus estimate 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 earnings per share for the current year.
Corteva Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 1.15%. Corteva's payout ratio is 52.71%.
About Corteva
(
Free Report)
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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