Corteva, Inc. (NYSE:CTVA) Shares Sold by Ancora Advisors LLC

Ancora Advisors LLC lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,417 shares of the company’s stock after selling 284 shares during the quarter. Ancora Advisors LLC’s holdings in Corteva were worth $1,049,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Capital World Investors increased its stake in Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after acquiring an additional 12,381,436 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the period. Norges Bank acquired a new stake in Corteva during the 4th quarter worth approximately $251,892,000. Raymond James Financial Inc. purchased a new position in Corteva in the fourth quarter valued at approximately $161,052,000. Finally, Franklin Resources Inc. lifted its position in Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after buying an additional 1,354,418 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CTVA shares. BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $68.43.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

Corteva Stock Performance

NYSE:CTVA opened at $62.45 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $60.59 and a 200 day moving average price of $60.60. The firm has a market capitalization of $42.65 billion, a PE ratio of 48.41, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

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%. Research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva 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.