Corteva, Inc. (NYSE:CTVA) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in Corteva, Inc. (NYSE:CTVA) by 29.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,239,683 shares of the company’s stock after selling 1,365,925 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Corteva worth $184,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTVA. WINTON GROUP Ltd purchased a new position in shares of Corteva during the 4th quarter worth $5,740,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Corteva by 7.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,101,692 shares of the company’s stock worth $61,629,000 after buying an additional 77,189 shares during the period. Korea Investment CORP boosted its stake in Corteva by 20.8% in the 4th quarter. Korea Investment CORP now owns 610,748 shares of the company’s stock worth $34,788,000 after buying an additional 104,992 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new stake in Corteva in the 4th quarter worth about $269,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Corteva by 0.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 333,616 shares of the company’s stock valued at $19,003,000 after buying an additional 1,828 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Corteva stock opened at $62.96 on Tuesday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market capitalization of $43.00 billion, a price-to-earnings ratio of 48.80, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The firm’s fifty day moving average price is $62.55 and its 200 day moving average price is $60.19.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 1.08%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CTVA shares. UBS Group decreased their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Barclays boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Oppenheimer increased their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

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.