Grantham Mayo Van Otterloo & Co. LLC cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 878,065 shares of the company's stock after selling 112,600 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.13% of Corteva worth $50,015,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in Corteva during the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva during the 4th quarter valued at $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Corteva during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 81.54% of the company's stock.
Insider Buying and Selling
In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.
Corteva Stock Down 1.8 %
Shares of NYSE CTVA traded down $1.03 during midday trading on Thursday, reaching $57.53. 1,444,240 shares of the company's stock were exchanged, compared to its average volume of 3,287,567. The stock has a market capitalization of $39.30 billion, a PE ratio of 44.59, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. 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 business's fifty day moving average price is $61.53 and its two-hundred day moving average price is $60.23.
Corteva (NYSE:CTVA - Get Free Report) last released its quarterly 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%. Analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.
Corteva Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's payout ratio is currently 52.71%.
Analysts Set New Price Targets
A number of analysts recently commented on CTVA shares. Oppenheimer increased their price objective on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Barclays lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. KeyCorp boosted their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Finally, Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $68.06.
Read Our Latest Research Report on CTVA
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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