Ellevest Inc. Has $271,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Ellevest Inc. lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,761 shares of the company’s stock after selling 250 shares during the period. Ellevest Inc.’s holdings in Corteva were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Vanguard Group Inc. raised its position in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after buying an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP grew its stake in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after acquiring an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Capital World Investors lifted its position in shares of Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Corteva by 5.5% during the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock worth $663,521,000 after purchasing an additional 608,898 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp lifted their price target on Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday. Oppenheimer restated an “outperform” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday. Bank of America lifted 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. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.64.

Corteva Stock Performance

NYSE CTVA opened at $67.70 on Friday. The company’s 50 day moving average is $60.87 and its 200-day moving average is $60.74. The firm has a market cap of $46.24 billion, a P/E ratio of 52.48, 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 $67.93. 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 (NYSE:CTVA) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Monday, June 2nd. Corteva’s payout ratio is presently 41.46%.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction 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 transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

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.