Barings LLC Has $17.11 Million Stake in Corteva, Inc. (NYSE:CTVA)

Barings LLC reduced its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 357,083 shares of the company's stock after selling 15,810 shares during the period. Corteva accounts for approximately 0.5% of Barings LLC's investment portfolio, making the stock its 24th biggest position. Barings LLC owned approximately 0.05% of Corteva worth $17,111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its position in Corteva by 17.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,046 shares of the company's stock valued at $156,000 after purchasing an additional 453 shares during the period. First Citizens Bank & Trust Co. bought a new position in Corteva during the third quarter worth $226,000. Peregrine Asset Advisers Inc. lifted its holdings in Corteva by 8.3% in the third quarter. Peregrine Asset Advisers Inc. now owns 5,714 shares of the company's stock valued at $292,000 after buying an additional 438 shares during the period. Jennison Associates LLC boosted its position in Corteva by 0.9% during the third quarter. Jennison Associates LLC now owns 212,796 shares of the company's stock valued at $10,887,000 after acquiring an additional 1,840 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Corteva by 68.5% during the 3rd quarter. Panagora Asset Management Inc. now owns 53,991 shares of the company's stock worth $2,762,000 after acquiring an additional 21,956 shares during the period. Institutional investors own 81.54% of the company's stock.

Corteva Stock Performance

Shares of NYSE CTVA traded up $0.25 during mid-day trading on Tuesday, reaching $57.55. 3,280,876 shares of the company's stock were exchanged, compared to its average volume of 3,579,144. The firm has a market capitalization of $40.11 billion, a price-to-earnings ratio of 73.16, a price-to-earnings-growth ratio of 1.52 and a beta of 0.78. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a 50-day moving average price of $55.73 and a two-hundred day moving average price of $50.98.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.65 billion. During the same period in the previous year, the business posted $1.16 EPS. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts predict that Corteva, Inc. will post 2.82 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva's dividend payout ratio (DPR) is currently 81.01%.

Analysts Set New Price Targets

Several brokerages recently commented on CTVA. Deutsche Bank Aktiengesellschaft upped their target price on Corteva from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, May 6th. Mizuho raised their price objective on shares of Corteva from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Barclays raised their price objective on shares of Corteva from $55.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 10th. 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. Finally, KeyCorp lifted their price target on shares of Corteva from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.24.

Insider Buying and Selling

In related news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company's stock, valued at approximately $764,491.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares of the company's stock, valued at approximately $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company's stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

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.

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