Freedom Investment Management Inc. Buys New Stake in Corteva, Inc. (NYSE:CTVA)

Freedom Investment Management Inc. bought a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,707 shares of the company's stock, valued at approximately $325,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after purchasing an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after buying an additional 5,604,838 shares during the period. Franklin Resources Inc. increased its position in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after acquiring an additional 1,354,418 shares in the last quarter. Invesco Ltd. lifted its position in shares of Corteva by 2.4% in the 4th quarter. Invesco Ltd. now owns 11,074,633 shares of the company's stock valued at $630,811,000 after acquiring an additional 264,531 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after purchasing an additional 525,531 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Performance

Shares of Corteva stock traded down $0.21 on Friday, reaching $61.50. The stock had a trading volume of 1,803,138 shares, compared to its average volume of 3,325,474. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The business's 50-day moving average price is $60.71 and its two-hundred day moving average price is $60.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market cap of $42.01 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA - Get Free Report) last issued 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, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued 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 dividend yield of 1.11%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CTVA shares. Oppenheimer increased their target price on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a research note on Monday, March 31st. Wells Fargo & Company increased their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Citigroup boosted their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Finally, UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and a consensus price target of $68.13.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value 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 $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Corteva Company 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.