Fmr LLC Sells 1,420,105 Shares of Corteva, Inc. (NYSE:CTVA)

FMR LLC lessened its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,327,686 shares of the company's stock after selling 1,420,105 shares during the quarter. FMR LLC owned about 1.36% of Corteva worth $531,305,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Corteva Price Performance

NYSE:CTVA traded up $0.91 during mid-day trading on Monday, reaching $60.19. The stock had a trading volume of 363,763 shares, compared to its average volume of 3,292,900. The stock has a 50-day simple moving average of $61.27 and a two-hundred day simple moving average of $60.26. The stock has a market capitalization of $41.11 billion, a PE ratio of 46.66, a P/E/G ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results 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%. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio (DPR) is 52.71%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several research analyst reports. KeyCorp boosted their price objective on Corteva from $70.00 to $71.00 and gave the company an "overweight" rating in a research report on Monday. BNP Paribas raised Corteva to a "hold" rating in a research report on Monday, February 10th. Oppenheimer boosted their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.13.

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.