Anomaly Capital Management LP Has $203 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Anomaly Capital Management LP cut its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,563,889 shares of the company's stock after selling 744,109 shares during the quarter. Corteva accounts for about 6.0% of Anomaly Capital Management LP's holdings, making the stock its 3rd biggest holding. Anomaly Capital Management LP owned about 0.52% of Corteva worth $202,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Oak Thistle LLC bought a new position in Corteva during the fourth quarter valued at about $1,514,000. Van ECK Associates Corp boosted its position in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after purchasing an additional 525,531 shares during the period. Swedbank AB boosted its position in Corteva by 51.9% during the fourth 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 period. Assenagon Asset Management S.A. boosted its position in Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after purchasing an additional 488,181 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its position in Corteva by 54.5% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock worth $5,474,000 after purchasing an additional 33,886 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at $723,257.78. This represents 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 at this link. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research report on Monday, March 31st. Bank of America increased their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada increased their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.13.

Corteva Trading Down 0.3 %

Shares of Corteva stock traded down $0.21 during trading on Friday, reaching $61.50. 1,803,138 shares of the stock were exchanged, compared to its average volume of 3,325,474. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock's fifty day moving average is $60.71 and its 200 day moving average is $60.44. The firm has a market cap of $42.01 billion, a price-to-earnings ratio of 47.67, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva's payout ratio is currently 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.