Fmr LLC Sells 1,420,105 Shares of Corteva, Inc. (NYSE:CTVA)

Fmr LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,327,686 shares of the company’s stock after selling 1,420,105 shares during the quarter. Fmr LLC owned approximately 1.36% of Corteva worth $531,305,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in Corteva during the fourth quarter worth about $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new stake in shares of Corteva during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva during the 4th quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Corteva in the 4th quarter valued at approximately $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 0.2 %

Shares of Corteva stock opened at $55.46 on Wednesday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The stock has a market cap of $37.88 billion, a PE ratio of 42.99, a PEG ratio of 1.68 and a beta of 0.73. The firm has a 50-day moving average of $61.81 and a 200-day moving average of $60.24. 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 earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS 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. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTVA. Barclays increased their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. KeyCorp lifted their price target on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Wells Fargo & Company upped their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

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.