Corteva, Inc. (NYSE:CTVA) Shares Sold by Man Group plc

Man Group plc decreased its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 99.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,118 shares of the company's stock after selling 681,571 shares during the quarter. Man Group plc's holdings in Corteva were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

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

Corteva Stock Up 1.6%

Shares of CTVA stock traded up $1.10 during trading hours on Friday, reaching $70.81. 5,450,676 shares of the stock were exchanged, compared to its average volume of 3,308,634. The business's fifty day moving average is $63.29 and its two-hundred day moving average is $61.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $71.01. The firm has a market capitalization of $48.30 billion, a P/E ratio of 54.89, a P/E/G ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal 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 issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is 41.46%.

Analyst Ratings Changes

Several brokerages recently issued reports on CTVA. The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective on the stock. Citigroup boosted their price objective on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating 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 note on Monday, March 31st. Morgan Stanley boosted their price target 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. Finally, BNP Paribas upgraded shares of Corteva to a "hold" rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

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.