Wells Fargo & Company MN Cuts Holdings in Corteva, Inc. (NYSE:CTVA)

Wells Fargo & Company MN lessened its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,652,155 shares of the company's stock after selling 54,143 shares during the period. Wells Fargo & Company MN owned approximately 0.97% of Corteva worth $378,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CTVA. World Investment Advisors lifted its stake in shares of Corteva by 46.5% in the 4th quarter. World Investment Advisors now owns 7,941 shares of the company's stock valued at $452,000 after acquiring an additional 2,520 shares during the last quarter. OneAscent Financial Services LLC grew its holdings in shares of Corteva by 16.9% during the fourth quarter. OneAscent Financial Services LLC now owns 5,332 shares of the company's stock worth $304,000 after purchasing an additional 771 shares during the last quarter. Huntington National Bank increased its stake in shares of Corteva by 2.2% in the fourth quarter. Huntington National Bank now owns 342,340 shares of the company's stock valued at $19,500,000 after buying an additional 7,408 shares during the period. RFG Bristol Wealth Advisors LLC acquired a new stake in Corteva during the 4th quarter worth approximately $201,000. Finally, National Bank of Canada FI increased its position in Corteva by 1.2% in the 4th quarter. National Bank of Canada FI now owns 364,402 shares of the company's stock valued at $20,759,000 after acquiring an additional 4,408 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTVA. UBS Group lowered their target price on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Royal Bank of Canada increased their target price on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. KeyCorp boosted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Finally, BNP Paribas raised Corteva to a "hold" rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.06.

Corteva Stock Down 2.5 %

NYSE:CTVA traded down $1.47 on Thursday, hitting $57.09. The stock had a trading volume of 1,299,119 shares, compared to its average volume of 3,287,041. The firm's fifty day simple moving average is $61.53 and its two-hundred day simple moving average is $60.23. The stock has a market cap of $38.99 billion, a P/E ratio of 44.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

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

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. 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 1.19%. Corteva's dividend payout ratio is presently 52.71%.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.