Fifth Third Bancorp Sells 172,816 Shares of Corteva, Inc. (NYSE:CTVA)

Fifth Third Bancorp trimmed its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,750 shares of the company's stock after selling 172,816 shares during the period. Fifth Third Bancorp's holdings in Corteva were worth $9,476,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Corteva during the 3rd quarter valued at $1,258,000. 17 Capital Partners LLC bought a new position in Corteva during the 4th quarter valued at $1,649,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Corteva by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company's stock valued at $39,794,000 after acquiring an additional 68,593 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Corteva by 206.0% in the 4th quarter. SG Americas Securities LLC now owns 31,875 shares of the company's stock worth $1,527,000 after buying an additional 21,457 shares during the last quarter. Finally, Richard Bernstein Advisors LLC bought a new position in shares of Corteva in the 3rd quarter worth about $2,783,000. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CTVA shares. Royal Bank of Canada raised their price target on shares of Corteva from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. Mizuho reduced their price target on shares of Corteva from $59.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, February 1st. Barclays raised their price target on shares of Corteva from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Friday, February 2nd. BNP Paribas upgraded shares of Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price objective on the stock in a research report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Corteva from $54.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Corteva has an average rating of "Moderate Buy" and an average target price of $63.14.

Corteva Trading Up 0.0 %

Shares of CTVA traded up $0.01 during midday trading on Monday, hitting $57.68. The stock had a trading volume of 2,660,453 shares, compared to its average volume of 3,841,218. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $63.37. The business has a 50-day simple moving average of $53.19 and a two-hundred day simple moving average of $49.82. The firm has a market cap of $40.31 billion, a P/E ratio of 56.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.54 billion. During the same period last year, the company posted $0.16 earnings per share. As a group, equities analysts forecast that Corteva, Inc. will post 2.87 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva's payout ratio is 62.75%.

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.