Commerce Bank Trims Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Commerce Bank lowered its stake in Corteva, Inc. (NYSE:CTVA) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,006 shares of the company’s stock after selling 2,641 shares during the quarter. Commerce Bank’s holdings in Corteva were worth $3,361,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CTVA. Cramer Rosenthal Mcglynn LLC boosted its position in shares of Corteva by 131.0% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 208,278 shares of the company’s stock worth $11,864,000 after purchasing an additional 118,133 shares during the period. Capital Group Investment Management PTE. LTD. lifted its stake in Corteva by 249.7% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 38,371 shares of the company’s stock worth $2,186,000 after purchasing an additional 27,398 shares in the last quarter. Capital International Sarl boosted its position in shares of Corteva by 276.8% during the fourth quarter. Capital International Sarl now owns 248,685 shares of the company’s stock worth $14,165,000 after buying an additional 182,680 shares during the period. Allred Capital Management LLC grew its stake in shares of Corteva by 3.2% in the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after buying an additional 171 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Corteva by 37.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 977,071 shares of the company’s stock valued at $55,591,000 after buying an additional 267,298 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction 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 completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several research reports. Barclays lifted 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. KeyCorp lifted their price objective on shares of Corteva from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Bank of America increased their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company upped their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Oppenheimer increased their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.13.

Corteva Stock Performance

Shares of Corteva stock opened at $59.69 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The firm’s 50 day moving average is $60.97 and its two-hundred day moving average is $60.31. The firm has a market capitalization of $40.77 billion, a P/E ratio of 46.27, a P/E/G ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last posted its earnings results 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 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.17 dividend. 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 dividend payout ratio (DPR) is presently 52.71%.

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.