Sterling Capital Management LLC Sells 98,230 Shares of Corteva, Inc. (NYSE:CTVA)

Sterling Capital Management LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 34.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,887 shares of the company's stock after selling 98,230 shares during the quarter. Sterling Capital Management LLC's holdings in Corteva were worth $10,702,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Schiavi & Co LLC boosted its stake in shares of Corteva by 5.1% in the fourth quarter. Schiavi & Co LLC now owns 4,443 shares of the company's stock valued at $253,000 after buying an additional 217 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Corteva by 0.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 315,768 shares of the company's stock valued at $17,986,000 after acquiring an additional 1,510 shares during the last quarter. Legacy Financial Advisors Inc. bought a new stake in Corteva during the 4th quarter worth approximately $205,000. Neuberger Berman Group LLC increased its stake in shares of Corteva by 1.7% in the fourth quarter. Neuberger Berman Group LLC now owns 1,124,666 shares of the company's stock valued at $64,061,000 after buying an additional 19,021 shares during the period. Finally, Scotia Capital Inc. boosted its stake in shares of Corteva by 6.0% in the 4th quarter. Scotia Capital Inc. now owns 5,843 shares of the company's stock valued at $333,000 after purchasing an additional 329 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other Corteva 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 transaction of $1,692,934.40. Following the transaction, 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 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 owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 price target for the company. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. Citigroup boosted their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and a consensus price target of $68.13.

Corteva Trading Down 1.0 %

Shares of Corteva stock traded down $0.61 during trading on Tuesday, reaching $59.68. The company's stock had a trading volume of 2,327,174 shares, compared to its average volume of 3,296,411. The firm's 50-day moving average is $61.20 and its two-hundred day moving average is $60.27. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a market cap of $40.77 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 1.68 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA - Get Free Report) last announced 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%. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, March 3rd. Corteva's dividend payout ratio (DPR) is 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.