Sequoia Financial Advisors LLC Trims Stock Position in Corteva, Inc. (NYSE:CTVA)

Sequoia Financial Advisors LLC cut its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,635 shares of the company's stock after selling 7,047 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Corteva were worth $891,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Oak Thistle LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $1,514,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock valued at $265,966,000 after buying an additional 66,052 shares during the period. Van ECK Associates Corp lifted 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 valued at $537,031,000 after purchasing an additional 525,531 shares in the last quarter. Swedbank AB lifted its position in shares of Corteva by 51.9% in the fourth 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 in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Corteva by 755.8% in the fourth 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 during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CTVA. Royal Bank of Canada upped 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. Barclays upped their price target on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. BNP Paribas raised Corteva to a "hold" rating in a research report on Monday, February 10th. UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, Citigroup increased their target price 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Corteva Trading Down 1.0 %

Corteva stock traded down $0.60 during trading on Thursday, hitting $61.86. The company had a trading volume of 2,684,735 shares, compared to its average volume of 3,537,146. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The stock has a market cap of $42.41 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company's 50 day simple moving average is $62.25 and its 200-day simple moving average is $59.79.

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 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%. As a group, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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

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.