Aviva PLC Acquires 384,398 Shares of Corteva, Inc. (NYSE:CTVA)

Aviva PLC boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 1,424.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,385 shares of the company’s stock after acquiring an additional 384,398 shares during the quarter. Aviva PLC owned 0.06% of Corteva worth $23,432,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CTVA. Norges Bank acquired a new position in shares of Corteva in the 4th quarter worth approximately $251,892,000. Raymond James Financial Inc. bought a new stake in shares of Corteva during the fourth quarter worth $161,052,000. Franklin Resources Inc. increased its stake in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after buying an additional 1,354,418 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Corteva by 69.0% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company’s stock valued at $163,181,000 after buying an additional 1,172,110 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after buying an additional 646,459 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CTVA shares. KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Oppenheimer boosted their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Citigroup lifted their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group started coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Corteva Trading Down 9.2 %

Shares of NYSE:CTVA opened at $55.66 on Monday. The firm has a market cap of $38.02 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company’s fifty day simple moving average is $62.36 and its 200 day simple moving average is $60.31. 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 (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

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.