Corteva, Inc. (NYSE:CTVA) Stock Holdings Increased by Boothbay Fund Management LLC

Boothbay Fund Management LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 92.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,428 shares of the company's stock after purchasing an additional 68,414 shares during the period. Boothbay Fund Management LLC's holdings in Corteva were worth $8,113,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CTVA. Flagship Wealth Advisors LLC purchased a new stake in Corteva in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in Corteva in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva in the 4th quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $34,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA traded up $0.17 during mid-day trading on Thursday, hitting $62.16. The stock had a trading volume of 1,068,881 shares, compared to its average volume of 3,573,322. The company has a market cap of $42.45 billion, a PE ratio of 48.18, a PEG ratio of 1.68 and a beta of 0.73. The company's fifty day simple moving average is $60.62 and its two-hundred day simple moving average is $60.49. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly 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%. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva's dividend payout ratio (DPR) is 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research reports. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective on the stock. Citigroup raised their price objective on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. KeyCorp raised their price objective on Corteva from $70.00 to $71.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Finally, Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.13.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the firm's 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 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

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.