Corteva, Inc. (NYSE:CTVA) Stock Holdings Lessened by Comerica Bank

Comerica Bank cut its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,341 shares of the company's stock after selling 5,069 shares during the period. Comerica Bank's holdings in Corteva were worth $16,937,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CTVA. Gallo Partners LP acquired a new position in shares of Corteva during the 4th quarter valued at about $2,488,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Corteva in the fourth quarter valued at approximately $287,000. AQR Capital Management LLC raised its position in shares of Corteva by 0.6% in the fourth quarter. AQR Capital Management LLC now owns 103,720 shares of the company's stock valued at $5,908,000 after purchasing an additional 640 shares during the period. California State Teachers Retirement System lifted its stake in shares of Corteva by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 1,746,099 shares of the company's stock worth $99,458,000 after buying an additional 13,568 shares during the last quarter. Finally, Lido Advisors LLC boosted its holdings in shares of Corteva by 7.5% during the 4th quarter. Lido Advisors LLC now owns 20,040 shares of the company's stock worth $1,141,000 after buying an additional 1,404 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup raised their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target 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. Barclays increased their target price on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Oppenheimer lifted their target price on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $68.13.

Corteva Trading Up 0.2 %

Shares of CTVA stock opened at $62.08 on Friday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a 50 day simple moving average of $60.61 and a two-hundred day simple moving average of $60.52. The company has a market cap of $42.40 billion, a P/E ratio of 48.13, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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%. Research analysts forecast 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. Stockholders 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 1.10%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's payout ratio is currently 52.71%.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the business's 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 completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was 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 through this hyperlink. 0.14% of the stock is owned by company insiders.

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.

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.