Gotham Asset Management LLC Buys Shares of 70,351 Corteva, Inc. (NYSE:CTVA)

Gotham Asset Management LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 70,351 shares of the company's stock, valued at approximately $4,007,000.

Several other large investors have also recently made changes to their positions in CTVA. Oak Thistle LLC acquired a new stake in shares of Corteva during the fourth quarter worth about $1,514,000. Van ECK Associates Corp boosted its stake in Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after purchasing an additional 525,531 shares during the period. Swedbank AB boosted its stake in shares of Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after buying an additional 237,764 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock valued at $31,486,000 after purchasing an additional 488,181 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC increased its stake in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock valued at $5,474,000 after buying an additional 33,886 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Oppenheimer reaffirmed an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. BNP Paribas upgraded Corteva to a "hold" rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Corteva Trading Down 0.1%

CTVA stock traded down $0.05 during trading on Tuesday, reaching $68.77. 1,168,430 shares of the stock traded hands, compared to its average volume of 3,290,413. The firm has a market capitalization of $46.91 billion, a PE ratio of 53.32, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business's 50 day moving average price is $61.81 and its 200-day moving average price is $61.04. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $69.28.

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. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The company's revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company 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 annualized dividend and a yield of 0.99%. The ex-dividend date is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is 41.46%.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company's stock, valued at $723,257.78. This represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

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.