Corteva, Inc. (NYSE:CTVA) Stake Lowered by CoreCommodity Management LLC

CoreCommodity Management LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 77,946 shares of the company’s stock after selling 595 shares during the quarter. Corteva comprises about 0.9% of CoreCommodity Management LLC’s holdings, making the stock its 16th biggest position. CoreCommodity Management LLC’s holdings in Corteva were worth $4,440,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. Independent Franchise Partners LLP raised its position in Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock valued at $939,641,000 after acquiring an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. lifted its stake in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after acquiring an additional 1,354,418 shares during the last quarter. Capital World Investors grew its position in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock worth $663,521,000 after purchasing an additional 608,898 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $62.51 on Wednesday. The company’s fifty day moving average is $60.59 and its two-hundred day moving average is $60.61. The firm has a market capitalization of $42.70 billion, a price-to-earnings ratio of 48.46, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, June 2nd. Corteva’s dividend payout ratio is presently 52.71%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CTVA. Argus raised shares of 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. Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. KeyCorp increased their price objective on Corteva from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Royal Bank of Canada boosted their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.43.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.