Corteva, Inc. (NYSE:CTVA) Stake Raised by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 45,128 shares of the company’s stock after purchasing an additional 427 shares during the period. Brown Brothers Harriman & Co.’s holdings in Corteva were worth $2,570,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CTVA. Norges Bank acquired a new stake in Corteva during the fourth quarter valued at approximately $251,892,000. Raymond James Financial Inc. acquired a new stake in shares of Corteva during the 4th quarter valued at $161,052,000. Franklin Resources Inc. boosted its position in shares of Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares during the period. State Street Corp boosted its holdings in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the period. Finally, Vanguard Group Inc. grew its position in Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 2.2 %

Corteva stock opened at $61.08 on Friday. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company’s fifty day moving average price is $62.53 and its two-hundred day moving average price is $60.10. The company has a market capitalization of $41.72 billion, a price-to-earnings ratio of 47.35, 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%. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Citigroup upped their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. Finally, BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the business’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 completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by 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.