Polar Asset Management Partners Inc. Purchases Shares of 71,500 Corteva, Inc. (NYSE:CTVA)

Polar Asset Management Partners Inc. acquired a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 71,500 shares of the company's stock, valued at approximately $4,073,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC bought a new position in shares of Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in shares of Corteva in the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new position in shares of Corteva in the fourth quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter valued at approximately $32,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the 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 sale, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Corteva Stock Performance

Shares of Corteva stock traded up $0.10 during trading hours on Wednesday, reaching $69.28. The company had a trading volume of 739,027 shares, compared to its average volume of 3,574,157. Corteva, Inc. has a one year low of $50.01 and a one year high of $69.42. The business has a fifty day simple moving average of $62.02 and a 200 day simple moving average of $61.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The firm has a market cap of $47.26 billion, a PE ratio of 53.69, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the company earned $0.89 earnings per share. The business's revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be given a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.98%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group upped their target price on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 target price (up from $72.00) on shares of Corteva in a report on Friday, May 9th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, March 31st. Royal Bank of Canada increased their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.50.

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.