Ameriprise Financial Inc. Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

Ameriprise Financial Inc. trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 18.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,134 shares of the company's stock after selling 83,264 shares during the quarter. Ameriprise Financial Inc. owned about 0.05% of Corteva worth $21,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTVA. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva in the 4th quarter worth $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva during the fourth quarter valued at $26,000. Hager Investment Management Services LLC purchased a new position in shares of Corteva during the fourth quarter valued at $27,000. LGT Financial Advisors LLC purchased a new position in Corteva in the fourth quarter valued at about $31,000. Finally, Golden State Wealth Management LLC purchased a new position in Corteva in the fourth quarter valued at about $32,000. Institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on CTVA. Argus raised 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. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Citigroup upped their price target on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Oppenheimer restated an "outperform" rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Finally, Barclays increased their price target on shares of Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.50.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents a 70.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

Corteva Stock Performance

NYSE:CTVA traded up $0.19 on Tuesday, hitting $69.00. The company's stock had a trading volume of 1,715,024 shares, compared to its average volume of 3,587,003. 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 fifty day moving average of $61.81 and a two-hundred day moving average of $61.04. The firm has a market capitalization of $47.07 billion, a P/E ratio of 53.52, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a one year low of $50.01 and a one year high of $69.28.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The firm's quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.99%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

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.