Cornercap Investment Counsel Inc. Sells 512 Shares of Corteva, Inc. (NYSE:CTVA)

Cornercap Investment Counsel Inc. decreased its stake in Corteva, Inc. (NYSE:CTVA) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,235 shares of the company’s stock after selling 512 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Corteva were worth $754,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. State Street Corp lifted its position in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares in the last quarter. Geode Capital Management LLC grew its holdings in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after acquiring an additional 355,206 shares during the last quarter. Franklin Resources Inc. increased its position in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares in the last quarter. Finally, Harris Associates L P raised its stake in shares of Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after acquiring an additional 200,917 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Corteva Stock Down 2.2 %

Corteva stock opened at $61.08 on Friday. The company has a 50 day moving average of $62.53 and a 200-day moving average of $60.10. 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 twelve month low of $50.01 and a twelve month high of $66.24. The stock has a market capitalization of $41.72 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CTVA shares. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. UBS Group dropped their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.00.

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.