Barclays PLC Decreases Position in Corteva, Inc. (NYSE:CTVA)

Barclays PLC lessened its position in Corteva, Inc. (NYSE:CTVA) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,831,653 shares of the company’s stock after selling 24,608 shares during the period. Barclays PLC’s holdings in Corteva were worth $104,329,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTVA. Oak Thistle LLC bought a new position in Corteva in the 4th quarter valued at approximately $1,514,000. Van ECK Associates Corp lifted its holdings in shares of Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after purchasing an additional 525,531 shares in the last quarter. Swedbank AB lifted its holdings in shares of Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after purchasing an additional 237,764 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after buying an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its position in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after buying an additional 33,886 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTVA. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. UBS Group decreased their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Bank of America upped their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.13.

Corteva Price Performance

NYSE CTVA opened at $59.68 on Wednesday. The stock has a market cap of $40.77 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company’s 50 day moving average is $61.15 and its two-hundred day moving average is $60.27. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

About Corteva

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.