Corteva, Inc. (NYSE:CTVA) Stock Holdings Lessened by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its holdings in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,761 shares of the company’s stock after selling 5,048 shares during the quarter. CIBC Asset Management Inc’s holdings in Corteva were worth $4,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after purchasing an additional 1,941,323 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after purchasing an additional 2,141,428 shares during the period. Northern Trust Corp grew its stake in Corteva by 2.7% in the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock valued at $639,796,000 after buying an additional 327,321 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Corteva by 11.6% in the fourth quarter. Van ECK Associates Corp now owns 8,528,252 shares of the company’s stock valued at $408,674,000 after acquiring an additional 883,161 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in shares of Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after purchasing an additional 213,949 shares during the period. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and increased their price target for the company from $57.00 to $65.00 in a research report on Monday, February 12th. Barclays boosted their price objective on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group increased their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.05.

Check Out Our Latest Analysis on Corteva

Insiders Place Their Bets

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,556 shares of company stock valued at $4,795,016. 0.14% of the stock is owned by company insiders.

Corteva Stock Performance

NYSE:CTVA opened at $54.06 on Thursday. The business’s fifty day moving average price is $55.95 and its 200 day moving average price is $51.94. The firm has a market capitalization of $37.68 billion, a PE ratio of 68.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.78. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVAGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

Corteva Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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