Massachusetts Financial Services Co. MA Has $776.70 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Massachusetts Financial Services Co. MA reduced its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,342,205 shares of the company's stock after selling 232,419 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.81% of Corteva worth $776,695,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after buying an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP boosted its position in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after buying an additional 5,604,838 shares in the last quarter. Norges Bank purchased a new stake in shares of Corteva in the 4th quarter worth about $251,892,000. Franklin Resources Inc. boosted its position in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after buying an additional 1,354,418 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in shares of Corteva by 69.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company's stock worth $163,181,000 after buying an additional 1,172,110 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 1.5%

Shares of NYSE CTVA traded down $1.11 on Tuesday, reaching $72.00. 2,247,177 shares of the company traded hands, compared to its average volume of 3,428,454. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $77.41. The company has a 50 day moving average of $71.66 and a 200 day moving average of $64.81. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $49.11 billion, a PE ratio of 43.90, a P/E/G ratio of 1.88 and a beta of 0.76.

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

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTVA. UBS Group boosted their price objective on shares of Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada upped their target price on shares of Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. BMO Capital Markets upped their target price on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley upped their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company upped their target price on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.46.

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.