Bridgewater Associates LP Has $16.44 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Bridgewater Associates LP lifted its stake in Corteva, Inc. (NYSE:CTVA) by 121.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 288,630 shares of the company’s stock after buying an additional 158,439 shares during the period. Bridgewater Associates LP’s holdings in Corteva were worth $16,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CTVA. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva in the 4th quarter worth about $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva during the fourth quarter worth 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. Golden State Wealth Management LLC bought a new stake in Corteva during the 4th quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in Corteva during the 4th quarter valued at $34,000. Institutional investors own 81.54% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $59.68 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $40.77 billion, a P/E ratio of 46.27, a PEG ratio of 1.68 and a beta of 0.73. The business has a 50-day moving average of $61.15 and a 200-day moving average of $60.27. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on CTVA shares. Royal Bank of Canada increased their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group reduced their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Finally, Oppenheimer upped 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $68.13.

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.