Corteva, Inc. (NYSE:CTVA) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 56.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,460,898 shares of the company’s stock after acquiring an additional 526,150 shares during the period. BNP Paribas Financial Markets owned 0.21% of Corteva worth $83,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. World Investment Advisors LLC acquired a new stake in Corteva during the third quarter worth $319,000. JPMorgan Chase & Co. grew its holdings in shares of Corteva by 6.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company’s stock worth $270,764,000 after purchasing an additional 288,885 shares during the period. Nordea Investment Management AB raised its holdings in Corteva by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 60,518 shares of the company’s stock valued at $3,442,000 after buying an additional 3,132 shares during the period. Diversified Trust Co lifted its position in Corteva by 1.0% in the fourth quarter. Diversified Trust Co now owns 21,449 shares of the company’s stock valued at $1,222,000 after buying an additional 210 shares during the last quarter. Finally, One Wealth Capital Management LLC purchased a new position in Corteva during the fourth quarter worth about $266,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

CTVA stock opened at $62.45 on Tuesday. 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, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The business has a 50 day moving average price of $60.59 and a 200 day moving average price of $60.60. The stock has a market cap of $42.65 billion, a price-to-earnings ratio of 48.41, a PEG ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA) last posted its 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%. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTVA. Wells Fargo & Company increased their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Monday, March 31st. Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.43.

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.