Beacon Pointe Advisors LLC Raises Stock Position in Corteva, Inc. (NYSE:CTVA)

Beacon Pointe Advisors LLC increased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 21.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,207 shares of the company's stock after purchasing an additional 4,341 shares during the period. Beacon Pointe Advisors LLC's holdings in Corteva were worth $1,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after buying an additional 646,459 shares during 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. grew its position in Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after buying an additional 1,354,418 shares during the period. Capital World Investors grew its holdings in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after purchasing an additional 12,381,436 shares during the period. Finally, Invesco Ltd. grew its position in shares of Corteva by 2.4% in the fourth quarter. Invesco Ltd. now owns 11,074,633 shares of the company's stock valued at $630,811,000 after purchasing an additional 264,531 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTVA. Royal Bank of Canada boosted their price target on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They set a "buy" rating and a $71.00 target price for the company. KeyCorp upped their target price on shares of Corteva from $70.00 to $71.00 and gave the company an "overweight" rating in a report on Monday, April 14th. UBS Group lowered their target price 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, Wells Fargo & Company lifted their price target on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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 Corteva stock in a transaction dated 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 completion of the sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Corteva Stock Up 0.4 %

Shares of NYSE CTVA traded up $0.23 during mid-day trading on Tuesday, reaching $62.64. 1,344,821 shares of the company's stock were exchanged, compared to its average volume of 3,305,164. The firm has a market capitalization of $42.78 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 1.68 and a beta of 0.72. The business has a fifty day simple moving average of $60.59 and a 200 day simple moving average of $60.60. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last posted 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%. As a group, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal 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 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is presently 52.71%.

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.