Corteva, Inc. (NYSE:CTVA) Shares Bought by Bayesian Capital Management LP

Bayesian Capital Management LP raised its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 408.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,014 shares of the company's stock after acquiring an additional 45,800 shares during the period. Bayesian Capital Management LP's holdings in Corteva were worth $3,248,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred on 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 sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Corteva Stock Performance

Shares of NYSE:CTVA traded up $0.10 on Tuesday, reaching $62.51. The company's stock had a trading volume of 2,680,710 shares, compared to its average volume of 3,310,451. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The stock has a market capitalization of $42.70 billion, a P/E ratio of 48.46, a PEG ratio of 1.68 and a beta of 0.72. The stock's 50-day moving average is $60.59 and its two-hundred day moving average is $60.61. 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 (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a $0.17 dividend. 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 dividend payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Royal Bank of Canada raised their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Oppenheimer boosted their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. UBS Group cut 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. Finally, Barclays upped their price objective on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.