Wellington Management Group LLP Sells 177,482 Shares of Corteva, Inc. (NYSE:CTVA)

Wellington Management Group LLP lessened its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 47.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200,478 shares of the company's stock after selling 177,482 shares during the period. Wellington Management Group LLP's holdings in Corteva were worth $11,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its position in Corteva by 11.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 176,491 shares of the company's stock valued at $10,053,000 after acquiring an additional 18,058 shares in the last quarter. Clearbridge Investments LLC increased its position in Corteva by 8.7% in the 4th quarter. Clearbridge Investments LLC now owns 1,765,829 shares of the company's stock valued at $100,582,000 after acquiring an additional 141,145 shares during the period. Brandywine Global Investment Management LLC purchased a new position in Corteva during the fourth quarter worth about $8,538,000. CIBC Private Wealth Group LLC raised its position in Corteva by 18.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 26,073 shares of the company's stock worth $1,490,000 after acquiring an additional 4,137 shares in the last quarter. Finally, Allianz SE purchased a new position in Corteva in the 4th quarter valued at approximately $1,459,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of analyst reports. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a report on Monday, March 31st. Barclays increased their target price on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. BNP Paribas upgraded Corteva to a "hold" rating in a research note on Monday, February 10th. Finally, Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Corteva has a consensus rating of "Moderate Buy" and a consensus price target of $68.06.

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Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Corteva Trading Up 2.3 %

Corteva stock traded up $1.33 during mid-day trading 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. 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 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market capitalization of $40.48 billion, a PE ratio of 45.95, a P/E/G ratio of 1.68 and a beta of 0.73. The stock has a 50-day simple moving average of $61.27 and a two-hundred day simple moving average of $60.25.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results 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%. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

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

About Corteva

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.