Shell Asset Management Co. Cuts Holdings in Corteva, Inc. (NYSE:CTVA)

Shell Asset Management Co. decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 42.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 13,595 shares of the company’s stock after selling 9,848 shares during the period. Shell Asset Management Co.’s holdings in Corteva were worth $784,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mediolanum International Funds Ltd purchased a new position in shares of Corteva in the 1st quarter valued at about $2,270,000. WCM Investment Management LLC boosted its position in shares of Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after purchasing an additional 213,949 shares during the period. Red Mountain Financial LLC acquired a new stake in shares of Corteva in the 4th quarter valued at about $862,000. Parsons Capital Management Inc. RI acquired a new stake in shares of Corteva in the 1st quarter valued at about $230,000. Finally, California State Teachers Retirement System boosted its position in shares of Corteva by 15.1% in the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock valued at $66,287,000 after purchasing an additional 181,883 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of Corteva stock opened at $55.39 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The stock has a market capitalization of $38.61 billion, a P/E ratio of 70.11, a PEG ratio of 1.49 and a beta of 0.77. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $53.68 and its 200 day moving average price is $53.58.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. As a group, research analysts anticipate that Corteva, Inc. will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

CTVA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. BMO Capital Markets increased their price objective on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Barclays raised their price target on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, KeyCorp raised their price target on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Insiders Place Their Bets

In other news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 over the last quarter. 0.14% of the stock is owned by corporate insiders.

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.