Advisors Asset Management Inc. Decreases Stock Position in Corteva, Inc. (NYSE:CTVA)

Advisors Asset Management Inc. lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,445 shares of the company’s stock after selling 2,949 shares during the period. Advisors Asset Management Inc.’s holdings in Corteva were worth $2,873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oak Thistle LLC purchased a new stake in Corteva during the 4th quarter valued at $1,514,000. Charles Schwab Investment Management Inc. raised its holdings in Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after buying an additional 66,052 shares during the period. Van ECK Associates Corp raised its holdings in Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after buying an additional 525,531 shares during the period. Swedbank AB raised its holdings in Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after buying an additional 237,764 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Corteva by 755.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after buying an additional 488,181 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock opened at $61.70 on Friday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The stock’s 50-day moving average is $62.44 and its 200 day moving average is $59.84. The company has a market cap of $42.30 billion, a P/E ratio of 47.83, a PEG ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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%. Research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CTVA shares. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Barclays increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 11,347 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.