Squarepoint Ops LLC Has $1.05 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Squarepoint Ops LLC lessened its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 96.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,467 shares of the company's stock after selling 463,138 shares during the period. Squarepoint Ops LLC's holdings in Corteva were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CTVA. Capital World Investors lifted its holdings in shares of Corteva by 2,874.6% during the fourth 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 lifted its holdings in shares of Corteva by 51.5% during the fourth 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 acquired a new stake in shares of Corteva during the fourth quarter worth $251,892,000. Raymond James Financial Inc. bought a new position in shares of Corteva in the fourth quarter worth $161,052,000. Finally, Franklin Resources Inc. increased its position in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the period. Institutional investors own 81.54% of the company's stock.

Corteva Trading Up 0.2%

Shares of CTVA stock traded up $0.13 during mid-day trading on Monday, reaching $70.93. 3,578,426 shares of the stock traded hands, compared to its average volume of 3,309,693. The stock's fifty day simple moving average is $63.29 and its two-hundred day simple moving average is $61.69. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $71.10. The company has a market cap of $48.39 billion, a price-to-earnings ratio of 54.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating 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 return on equity of 7.19% and a net margin of 5.36%. The business's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. On average, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's dividend payout ratio is currently 41.46%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Argus upgraded 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. Citigroup raised their price target on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Oppenheimer restated an "outperform" rating and issued a $75.00 price target (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Finally, Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

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.