Corteva, Inc. (NYSE:CTVA) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in Corteva, Inc. (NYSE:CTVA) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,382,946 shares of the company’s stock after selling 320,825 shares during the quarter. Geode Capital Management LLC owned about 2.53% of Corteva worth $987,636,000 at the end of the most recent reporting period.

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

Insider Activity at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTVA shares. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp boosted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Corteva Stock Up 0.7 %

Corteva stock opened at $64.01 on Thursday. The firm has a market capitalization of $43.72 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. 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 is $62.59 and its two-hundred day moving average is $60.26.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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%. 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. Investors of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is currently 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.