Gabelli Funds LLC Sells 3,000 Shares of Corteva, Inc. (NYSE:CTVA)

Gabelli Funds LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 5.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 50,136 shares of the company’s stock after selling 3,000 shares during the period. Gabelli Funds LLC’s holdings in Corteva were worth $2,856,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CTVA shares. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.13.

Corteva Trading Up 0.8 %

Shares of CTVA stock opened at $59.69 on Friday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The stock’s fifty day moving average price is $60.97 and its two-hundred day moving average price is $60.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market cap of $40.77 billion, a PE ratio of 46.27, a P/E/G ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last released 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 net margin of 5.36% and a return on equity of 7.19%. Equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced 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 of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Corteva’s payout ratio is presently 52.71%.

Insider Activity

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’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 transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is 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.