Benjamin Edwards Inc. Acquires 535,016 Shares of Corteva, Inc. (NYSE:CTVA)

Benjamin Edwards Inc. increased its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 6,273.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 543,544 shares of the company's stock after purchasing an additional 535,016 shares during the quarter. Benjamin Edwards Inc. owned 0.08% of Corteva worth $30,960,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Capital World Investors lifted its position in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Norges Bank acquired a new stake in shares of Corteva in the 4th quarter valued at about $251,892,000. Raymond James Financial Inc. bought a new stake in shares of Corteva in the fourth quarter valued at about $161,052,000. Finally, Franklin Resources Inc. boosted its position in shares of Corteva by 9.2% during the fourth 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. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. The Goldman Sachs Group started coverage on shares of Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price for the company. Bank of America lifted their price target on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Finally, Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a report on Monday, March 31st. 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 company's stock. Based on data from MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.43.

Insider Buying and Selling at Corteva

In other 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 transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company's stock.

Corteva Stock Up 1.0 %

Shares of CTVA opened at $62.65 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $42.79 billion, a PE ratio of 48.57, a P/E/G ratio of 1.68 and a beta of 0.72. The firm's 50 day moving average is $60.60 and its 200-day moving average is $60.57. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last released its 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 return on equity of 7.19% and a net margin of 5.36%. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

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 issued a $0.17 dividend. 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%.

Corteva Company 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.

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.