Assenagon Asset Management S.A. Sells 513,247 Shares of Corteva, Inc. (NYSE:CTVA)

Assenagon Asset Management S.A. lessened its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 92.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,522 shares of the company's stock after selling 513,247 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Corteva were worth $2,487,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CTVA. Beacon Capital Management LLC raised its stake in Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock valued at $76,000 after acquiring an additional 158 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after acquiring an additional 160 shares during the period. Sepio Capital LP boosted its position in Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company's stock worth $305,000 after acquiring an additional 166 shares during the period. Allred Capital Management LLC boosted its position in Corteva by 3.2% during the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company's stock worth $310,000 after acquiring an additional 171 shares during the period. Finally, Keene & Associates Inc. raised its position in shares of Corteva by 1.3% during the 4th quarter. Keene & Associates Inc. now owns 15,586 shares of the company's stock worth $888,000 after buying an additional 195 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Down 0.1%

NYSE:CTVA traded down $0.08 during mid-day trading on Wednesday, reaching $74.13. The stock had a trading volume of 3,721,918 shares, compared to its average volume of 3,343,365. The stock has a market cap of $50.57 billion, a P/E ratio of 26.60, a PEG ratio of 1.90 and a beta of 0.75. The business's 50 day moving average is $66.22 and its 200 day moving average is $62.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $74.81.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio (DPR) is currently 41.46%.

Analyst Ratings Changes

CTVA has been the topic of a number of recent analyst reports. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Corteva from $73.00 to $79.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Finally, Citigroup boosted their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and an average price target of $70.92.

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.