Capital International Sarl Sells 80,662 Shares of Corteva, Inc. (NYSE:CTVA)

Capital International Sarl lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 55.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 66,081 shares of the company’s stock after selling 80,662 shares during the period. Capital International Sarl’s holdings in Corteva were worth $3,167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital International Investors increased its stake in shares of Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after purchasing an additional 8,260,808 shares during the last quarter. Edge Capital Group LLC boosted its holdings in Corteva by 9.0% in the 4th quarter. Edge Capital Group LLC now owns 6,893 shares of the company’s stock valued at $330,000 after purchasing an additional 567 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Corteva by 6.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 21,517 shares of the company’s stock valued at $1,031,000 after purchasing an additional 1,254 shares during the period. Rafferty Asset Management LLC boosted its holdings in Corteva by 3.4% in the 4th quarter. Rafferty Asset Management LLC now owns 54,684 shares of the company’s stock valued at $2,620,000 after purchasing an additional 1,817 shares during the period. Finally, NEOS Investment Management LLC boosted its holdings in Corteva by 33.8% in the 4th quarter. NEOS Investment Management LLC now owns 9,978 shares of the company’s stock valued at $478,000 after purchasing an additional 2,518 shares during the period. Institutional investors own 81.54% of the company’s stock.

Insider Activity

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Titus sold 12,134 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 in the last ninety days. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CTVA. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. BMO Capital Markets upped their target price on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Wolfe Research began coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective on the stock. Barclays increased their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Oppenheimer increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.05.

Corteva Trading Up 0.7 %

Corteva stock traded up $0.36 during trading hours on Wednesday, hitting $54.06. The company had a trading volume of 2,013,802 shares, compared to its average volume of 3,522,584. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The firm has a market cap of $37.68 billion, a P/E ratio of 67.85, a P/E/G ratio of 1.47 and a beta of 0.78. The company has a 50-day moving average price of $56.01 and a two-hundred day moving average price of $51.93.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. Corteva’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.82 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. Corteva’s payout ratio is 81.01%.

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.