Two Sigma Investments LP Cuts Position in Corteva, Inc. (NYSE:CTVA)

Two Sigma Investments LP cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 53.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,708 shares of the company's stock after selling 20,412 shares during the quarter. Two Sigma Investments LP's holdings in Corteva were worth $1,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTVA. Scissortail Wealth Management LLC boosted its holdings in Corteva by 72,080.0% in the fourth quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock worth $206,000 after acquiring an additional 3,604 shares in the last quarter. Van ECK Associates Corp raised its holdings in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after buying an additional 525,531 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 raised its holdings in shares of Corteva by 17.3% in the 4th quarter. Allworth Financial LP now owns 13,699 shares of the company's stock worth $856,000 after acquiring an additional 2,023 shares during the last quarter. Finally, DnB Asset Management AS raised its holdings in shares of Corteva by 39.0% in the 4th quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock worth $13,266,000 after acquiring an additional 65,334 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

NYSE:CTVA traded up $0.36 during trading hours on Monday, reaching $72.00. The stock had a trading volume of 2,853,762 shares, compared to its average volume of 3,315,780. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $72.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a 50 day simple moving average of $64.17 and a 200 day simple moving average of $62.16. The stock has a market cap of $49.12 billion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the firm posted $0.89 EPS. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. Corteva's dividend payout ratio is currently 41.46%.

Wall Street Analyst Weigh In

A number of analysts have commented on CTVA shares. Barclays boosted their price objective on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a report on Friday. BNP Paribas upgraded Corteva to a "hold" rating in a research note on Monday, February 10th. Morgan Stanley lifted their price objective on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, March 31st. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.