Bearing Point Capital LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 73,487 shares of the company's stock, valued at approximately $4,186,000.
Other institutional investors have also recently made changes to their positions in the company. Oak Thistle LLC bought a new position in shares of Corteva in the fourth quarter valued at $1,514,000. Van ECK Associates Corp grew its position in shares of Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after acquiring an additional 525,531 shares during the period. Swedbank AB increased its stake in shares of Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after purchasing an additional 237,764 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock valued at $31,486,000 after purchasing an additional 488,181 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its stake in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock valued at $5,474,000 after purchasing an additional 33,886 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on CTVA shares. BNP Paribas raised Corteva to a "hold" rating in a research report on Monday, February 10th. 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 on the stock. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Barclays raised their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.43.
Read Our Latest Analysis on CTVA
Corteva Stock Performance
CTVA opened at $62.65 on Friday. 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, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The firm has a market cap of $42.79 billion, a P/E ratio of 48.57, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The business's fifty day moving average is $60.60 and its 200-day moving average is $60.57.
Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.32 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%. Sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.
Corteva Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's payout ratio is presently 52.71%.
Insider Buying and Selling at Corteva
In related news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction 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 in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company's stock.
Corteva Profile
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Free Report)
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.
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