Corteva, Inc. (NYSE:CTVA) Holdings Increased by Axa S.A.

Axa S.A. increased its stake in Corteva, Inc. (NYSE:CTVA) by 57.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,728 shares of the company’s stock after acquiring an additional 22,276 shares during the period. Axa S.A.’s holdings in Corteva were worth $3,459,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CTVA. Flagship Wealth Advisors LLC bought a new position in Corteva during the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in Corteva during the fourth quarter worth about $26,000. Hager Investment Management Services LLC bought a new stake in Corteva in the fourth quarter worth about $27,000. LGT Financial Advisors LLC acquired a new stake in Corteva in the 4th quarter valued at about $31,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insiders Place Their Bets

In related 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 owns 11,347 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.1 %

Shares of Corteva stock opened at $62.41 on Thursday. 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 $42.63 billion, a P/E ratio of 48.38, a PEG ratio of 1.68 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $60.58 and a two-hundred day moving average price of $60.63.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the business posted $0.89 EPS. Corteva’s revenue was down 1.7% compared to the same quarter last year. Equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on CTVA shares. Oppenheimer boosted their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Finally, UBS Group dropped their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One investment 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 data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $68.43.

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.