Shelton Capital Management Lowers Holdings in Corteva, Inc. (NYSE:CTVA)

Shelton Capital Management lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,290 shares of the company’s stock after selling 250 shares during the quarter. Shelton Capital Management’s holdings in Corteva were worth $1,384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC acquired a new stake in shares of Corteva during the 4th quarter worth about $1,514,000. Van ECK Associates Corp increased its position in shares of Corteva by 5.9% during the fourth 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 during the last quarter. Swedbank AB raised its stake in shares of Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after acquiring an additional 237,764 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after acquiring an additional 488,181 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its position in shares of Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after purchasing an additional 33,886 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CTVA. UBS Group decreased their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price target on the stock. Finally, 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 note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Corteva Stock Down 0.2 %

Shares of NYSE CTVA opened at $55.46 on Wednesday. The business has a 50-day moving average of $61.81 and a two-hundred day moving average of $60.24. The company has a market capitalization of $37.88 billion, a price-to-earnings ratio of 42.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. 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 posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. 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 announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the company’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 completion of the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.