Resona Asset Management Co. Ltd. purchased a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 203,193 shares of the company's stock, valued at approximately $11,582,000.
Other hedge funds also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $25,000. Noble Wealth Management PBC acquired a new stake in Corteva during the fourth quarter worth about $26,000. Hager Investment Management Services LLC bought a new position in Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva during the fourth quarter worth about $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.54% of the company's stock.
Insider Transactions at Corteva
In related news, insider Brian Titus sold 26,560 shares of the firm'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 transaction 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 trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.
Corteva Stock Performance
Shares of NYSE CTVA traded up $0.73 during mid-day trading on Friday, reaching $58.67. 794,662 shares of the company's stock were exchanged, compared to its average volume of 3,292,371. The firm has a 50-day moving average price of $61.40 and a two-hundred day moving average price of $60.23. 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, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The firm has a market capitalization of $40.08 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73.
Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.
Corteva Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. Corteva's payout ratio is 52.71%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on CTVA shares. Citigroup increased their price target on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Oppenheimer increased their price objective on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Finally, Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. One 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.06.
View Our Latest Stock Analysis on CTVA
Corteva Profile
(
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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