OLD National Bancorp IN Sells 9,844 Shares of Corteva, Inc. (NYSE:CTVA)

OLD National Bancorp IN cut its holdings in Corteva, Inc. (NYSE:CTVA) by 39.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,899 shares of the company’s stock after selling 9,844 shares during the period. OLD National Bancorp IN’s holdings in Corteva were worth $714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WCM Investment Management LLC raised its stake in shares of Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. 17 Capital Partners LLC bought a new position in shares of Corteva during the fourth quarter valued at about $1,649,000. Factory Mutual Insurance Co. raised its stake in shares of Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after acquiring an additional 51,500 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after acquiring an additional 68,593 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 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. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 0.0 %

Shares of Corteva stock opened at $55.19 on Wednesday. The company has a market cap of $38.57 billion, a price-to-earnings ratio of 54.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. The company’s 50 day moving average is $55.26 and its 200 day moving average is $50.37. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.87. 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 (NYSE:CTVA) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Research analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.16%. Corteva’s payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Mizuho reduced their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Wells Fargo & Company boosted their price target on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and boosted their price target for the company from $57.00 to $65.00 in a research report on Monday, February 12th. Finally, Barclays boosted their price target 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. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.29.

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.