Ninety One UK Ltd Sells 14,968 Shares of Corteva, Inc. (NYSE:CTVA)

Ninety One UK Ltd cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,278 shares of the company’s stock after selling 14,968 shares during the period. Ninety One UK Ltd’s holdings in Corteva were worth $6,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Goodman Advisory Group LLC lifted its position in Corteva by 3.8% during the fourth quarter. Goodman Advisory Group LLC now owns 39,616 shares of the company’s stock valued at $1,898,000 after acquiring an additional 1,447 shares during the last quarter. Keene & Associates Inc. lifted its position in Corteva by 20.6% during the fourth quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock valued at $662,000 after acquiring an additional 2,358 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Corteva by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after acquiring an additional 31,171 shares during the last quarter. Romano Brothers AND Company lifted its position in Corteva by 12.2% during the fourth quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock valued at $229,000 after acquiring an additional 518 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Corteva during the fourth quarter valued at approximately $2,041,000. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CTVA. KeyCorp increased their target price on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. UBS Group decreased their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Wells Fargo & Company raised their price target on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Royal Bank of Canada raised their price target on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Oppenheimer raised their price target on shares of Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.29.

Corteva Stock Up 0.8 %

CTVA stock opened at $53.96 on Friday. The stock has a market capitalization of $37.71 billion, a P/E ratio of 52.90, a P/E/G ratio of 1.40 and a beta of 0.77. The firm has a 50-day simple moving average of $55.20 and a 200-day simple moving average of $50.26. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $62.97.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter in the previous year, the company earned $0.16 earnings per share. Equities analysts forecast that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. Corteva’s payout ratio is presently 62.75%.

About Corteva

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.