Cullinan Associates Inc. Has $8.55 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Cullinan Associates Inc. trimmed its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,369 shares of the company's stock after selling 18,564 shares during the quarter. Cullinan Associates Inc.'s holdings in Corteva were worth $8,547,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company's stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Corteva by 1.4% in the first quarter. Geode Capital Management LLC now owns 14,726,824 shares of the company's stock worth $886,490,000 after acquiring an additional 208,948 shares in the last quarter. Northern Trust Corp lifted its position in Corteva by 2.7% in the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company's stock valued at $639,796,000 after acquiring an additional 327,321 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Corteva by 29.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company's stock valued at $567,624,000 after buying an additional 2,545,570 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Corteva by 8.6% during the fourth quarter. Morgan Stanley now owns 9,452,940 shares of the company's stock worth $555,644,000 after acquiring an additional 746,972 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Loop Capital upgraded Corteva from a "hold" rating to a "buy" rating and upped their price objective for the stock from $57.00 to $65.00 in a report on Monday, February 12th. BNP Paribas raised shares of Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price target for the company in a research report on Friday, February 2nd. KeyCorp raised their price target on Corteva from $62.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, February 2nd. Royal Bank of Canada upped 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. Finally, Wells Fargo & Company upped their price target on Corteva from $54.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $63.14.

Corteva Stock Down 0.2 %

Shares of Corteva stock traded down $0.10 on Friday, reaching $56.85. 2,226,724 shares of the company were exchanged, compared to its average volume of 3,774,675. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $63.37. The stock's 50 day moving average price is $54.38 and its 200-day moving average price is $50.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The company has a market cap of $39.73 billion, a P/E ratio of 55.74, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

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

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Corteva's payout ratio is currently 62.75%.

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.

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.