Cresset Asset Management LLC Has $404,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Cresset Asset Management LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 85.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,085 shares of the company's stock after selling 40,769 shares during the period. Cresset Asset Management LLC's holdings in Corteva were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Corteva by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock valued at $270,764,000 after purchasing an additional 288,885 shares during the last quarter. Wedmont Private Capital raised its holdings in Corteva by 16.5% during the 4th quarter. Wedmont Private Capital now owns 4,708 shares of the company's stock worth $269,000 after buying an additional 668 shares during the period. Miracle Mile Advisors LLC lifted its stake in Corteva by 2.5% in the fourth quarter. Miracle Mile Advisors LLC now owns 11,723 shares of the company's stock valued at $668,000 after buying an additional 287 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Corteva by 4.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,288 shares of the company's stock valued at $358,000 after buying an additional 244 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of 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 acquiring an additional 488,181 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Price Performance

CTVA stock traded up $0.04 during midday trading on Wednesday, reaching $69.22. The company had a trading volume of 435,579 shares, compared to its average volume of 3,570,326. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $69.42. The stock has a 50 day moving average price of $62.02 and a 200-day moving average price of $61.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market capitalization of $47.22 billion, a price-to-earnings ratio of 53.66, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72.

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

Corteva Dividend Announcement

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 0.98%. The ex-dividend date is Monday, June 2nd. Corteva's dividend payout ratio is presently 41.46%.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective for the company in a research report on Monday, March 31st. Citigroup upped their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Barclays lifted their price target on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Finally, Oppenheimer restated an "outperform" rating and issued a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the company's 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 sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.14% of the company's stock.

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.