Corteva, Inc. (NYSE:CTVA) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,648,890 shares of the company's stock after buying an additional 608,898 shares during the quarter. Northern Trust Corp owned 1.69% of Corteva worth $663,521,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CTVA. Capital World Investors boosted its position in shares of Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after purchasing an additional 12,381,436 shares during the period. Independent Franchise Partners LLP increased its stake in 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 bought a new stake in Corteva during the fourth quarter valued at about $251,892,000. Raymond James Financial Inc. purchased a new position in shares of Corteva in the fourth quarter valued at about $161,052,000. Finally, Franklin Resources Inc. boosted its stake 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 acquiring an additional 1,354,418 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target for the company. 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. Oppenheimer raised their price objective on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $68.13.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company's stock.

Corteva Trading Up 1.0 %

CTVA stock traded up $0.63 during mid-day trading on Friday, reaching $62.65. The company had a trading volume of 3,181,608 shares, compared to its average volume of 3,315,350. The company has a market capitalization of $42.79 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The firm has a 50 day moving average of $60.61 and a 200 day moving average of $60.52. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. 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 (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share 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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, June 2nd. Corteva's payout ratio is 52.71%.

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.