Wellington Management Group LLP Sells 177,482 Shares of Corteva, Inc. (NYSE:CTVA)

Wellington Management Group LLP lessened its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 47.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,478 shares of the company's stock after selling 177,482 shares during the quarter. Wellington Management Group LLP's holdings in Corteva were worth $11,419,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Scissortail Wealth Management LLC lifted its position in shares of Corteva by 72,080.0% during the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock worth $206,000 after buying an additional 3,604 shares during the period. Van ECK Associates Corp grew its position in Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after acquiring an additional 525,531 shares during the period. JPMorgan Chase & Co. raised its stake in Corteva by 6.7% during the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock worth $270,764,000 after acquiring an additional 288,885 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Corteva by 17.3% during the fourth quarter. Allworth Financial LP now owns 13,699 shares of the company's stock valued at $856,000 after acquiring an additional 2,023 shares during the period. Finally, DnB Asset Management AS lifted its holdings in shares of Corteva by 39.0% during the fourth quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock valued at $13,266,000 after acquiring an additional 65,334 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analyst Weigh In

CTVA has been the topic of several analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 target price (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. 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. Wells Fargo & Company upped their price objective on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Royal Bank of Canada lifted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, KeyCorp boosted their target price on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. One investment 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Corteva Trading Up 0.4%

CTVA traded up $0.27 during mid-day trading on Wednesday, reaching $71.46. The stock had a trading volume of 2,776,524 shares, compared to its average volume of 3,312,198. The firm's fifty day simple moving average is $63.63 and its two-hundred day simple moving average is $61.87. The stock has a market capitalization of $48.75 billion, a P/E ratio of 55.40, a P/E/G ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $71.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

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, beating the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is 41.46%.

About Corteva

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.