Russell Investments Group Ltd. Cuts Position in Corteva, Inc. (NYSE:CTVA)

Russell Investments Group Ltd. lessened its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 475,915 shares of the company's stock after selling 37,064 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Corteva worth $27,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTVA. Oak Thistle LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $1,514,000. Van ECK Associates Corp grew its position in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after buying an additional 525,531 shares in the last quarter. Swedbank AB lifted its position in shares of Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company's stock valued at $39,624,000 after acquiring an additional 237,764 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Corteva by 755.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after purchasing an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC increased its holdings in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock valued at $5,474,000 after buying an additional 33,886 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTVA has been the subject of a number of recent research reports. Citigroup upped their target price on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Oppenheimer increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Bank of America lifted their price target on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. KeyCorp increased their price target on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada lifted their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One research 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 data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.06.

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Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction 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 transaction, the insider now owns 11,347 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

Corteva Stock Performance

Shares of CTVA traded up $1.33 during trading hours on Friday, hitting $59.27. The stock had a trading volume of 3,067,223 shares, compared to its average volume of 3,306,914. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a market capitalization of $40.48 billion, a PE ratio of 45.95, a PEG ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a fifty day moving average price of $61.27 and a 200 day moving average price of $60.25.

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

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.15%. The ex-dividend date was Monday, March 3rd. Corteva's dividend payout ratio is currently 52.71%.

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.