CIBC Private Wealth Group LLC Purchases 4,137 Shares of Corteva, Inc. (NYSE:CTVA)

CIBC Private Wealth Group LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,073 shares of the company’s stock after buying an additional 4,137 shares during the period. CIBC Private Wealth Group LLC’s holdings in Corteva were worth $1,490,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Oak Thistle LLC bought a new position in shares of Corteva in the 4th quarter valued at about $1,514,000. Van ECK Associates Corp lifted its stake in Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after acquiring an additional 525,531 shares in the last quarter. Swedbank AB boosted its stake in shares of Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after buying an additional 237,764 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Corteva by 755.8% in the fourth 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 in the last quarter. Finally, S.E.E.D. Planning Group LLC increased its position in Corteva by 54.5% during the fourth 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. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTVA. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price objective for the company. Finally, Barclays increased their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. 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 stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Corteva Trading Down 4.3 %

Shares of CTVA stock opened at $61.25 on Friday. The company has a market cap of $41.84 billion, a P/E ratio of 47.48, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The stock has a 50 day simple moving average of $62.53 and a two-hundred day simple moving average of $60.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS 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 forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.