Nikko Asset Management Americas Inc. Has $26.06 Million Stake in Corteva, Inc. (NYSE:CTVA)

Nikko Asset Management Americas Inc. trimmed its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 457,513 shares of the company's stock after selling 137,676 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.07% of Corteva worth $26,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Corteva in the third quarter worth $205,000. Apollon Wealth Management LLC raised its stake in shares of Corteva by 16.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,213 shares of the company's stock valued at $365,000 after acquiring an additional 878 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Corteva by 7.2% in the third quarter. Aptus Capital Advisors LLC now owns 4,503 shares of the company's stock worth $265,000 after buying an additional 303 shares during the last quarter. CIBC Asset Management Inc grew its stake in Corteva by 9.1% in the 3rd quarter. CIBC Asset Management Inc now owns 106,979 shares of the company's stock valued at $6,289,000 after buying an additional 8,912 shares during the last quarter. Finally, Sawgrass Asset Management LLC grew its position in shares of Corteva by 6.6% in the third quarter. Sawgrass Asset Management LLC now owns 10,793 shares of the company's stock valued at $635,000 after purchasing an additional 664 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Corteva Stock Performance

Shares of CTVA traded down $0.13 during midday trading on Friday, reaching $61.70. The stock had a trading volume of 6,880,464 shares, compared to its average volume of 3,044,549. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $62.34 and a 200-day simple moving average of $59.81. The firm has a market cap of $42.30 billion, a PE ratio of 47.83, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, March 3rd. Corteva's payout ratio is 52.71%.

Analyst Ratings Changes

A number of analysts have weighed in on CTVA shares. BNP Paribas raised shares of Corteva to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. KeyCorp lifted their target price 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. The Goldman Sachs Group started coverage on Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. Finally, UBS Group decreased their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Corteva 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.