Capital International Investors Decreases Position in Corteva, Inc. (NYSE:CTVA)

Capital International Investors reduced its stake in Corteva, Inc. (NYSE:CTVA) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,461,287 shares of the company’s stock after selling 1,349,138 shares during the period. Capital International Investors owned 3.41% of Corteva worth $1,336,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Corteva during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new position in shares of Corteva during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at $32,000. Finally, Centricity Wealth Management LLC purchased a new stake in Corteva in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 0.8 %

Corteva stock opened at $59.69 on Friday. The firm has a market capitalization of $40.77 billion, a price-to-earnings ratio of 46.27, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The stock’s fifty day moving average is $61.04 and its two-hundred day moving average is $60.27.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Barclays lifted 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. BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. UBS Group dropped their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, KeyCorp increased their price target on Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $68.13.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by insiders.

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.