Jackson Square Partners LLC Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

Jackson Square Partners LLC trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,428 shares of the company's stock after selling 16,446 shares during the quarter. Jackson Square Partners LLC's holdings in Corteva were worth $6,633,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CTVA. Jennison Associates LLC grew its position in shares of Corteva by 0.9% during the 3rd quarter. Jennison Associates LLC now owns 212,796 shares of the company's stock valued at $10,887,000 after buying an additional 1,840 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of 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 purchasing an additional 21,956 shares during the period. AlphaMark Advisors LLC bought a new stake in shares of Corteva in the 3rd quarter worth approximately $82,000. New Mexico Educational Retirement Board boosted its position in Corteva by 6.6% during the 3rd quarter. New Mexico Educational Retirement Board now owns 36,947 shares of the company's stock valued at $1,890,000 after purchasing an additional 2,300 shares during the period. Finally, AIA Group Ltd grew its stake in Corteva by 30.7% during the 3rd quarter. AIA Group Ltd now owns 25,356 shares of the company's stock worth $1,297,000 after buying an additional 5,953 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BNP Paribas upgraded 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. Wolfe Research assumed coverage on shares of Corteva in a research note on Friday, March 1st. They issued an "outperform" rating and a $67.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Corteva from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, May 6th. Royal Bank of Canada lifted their target price on Corteva from $62.00 to $64.00 and gave the company an "outperform" rating in a research note on Monday, May 6th. Finally, Mizuho increased their price target on Corteva from $56.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.24.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 12,134 shares of the firm's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares of the company's stock, valued at approximately $764,491.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corteva news, insider Brian Titus sold 12,134 shares of the firm's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 in the last quarter. Company insiders own 0.14% of the company's stock.

Corteva Trading Up 0.8 %

NYSE CTVA traded up $0.45 on Friday, hitting $56.45. 5,282,049 shares of the company were exchanged, compared to its average volume of 3,618,558. The company's 50 day moving average price is $55.93 and its 200-day moving average price is $51.19. The firm has a market capitalization of $39.34 billion, a P/E ratio of 71.46, a price-to-earnings-growth ratio of 1.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.81.

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

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Corteva's payout ratio is 81.01%.

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.