KBC Group NV Lowers Stock Position in Corteva, Inc. (NYSE:CTVA)

KBC Group NV trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 73.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,193 shares of the company’s stock after selling 258,771 shares during the quarter. KBC Group NV’s holdings in Corteva were worth $4,370,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings 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 acquiring an additional 181,883 shares during the period. Alberta Investment Management Corp raised its holdings in Corteva by 85.6% in the fourth quarter. Alberta Investment Management Corp now owns 26,350 shares of the company’s stock worth $1,263,000 after purchasing an additional 12,150 shares in the last quarter. Scotia Capital Inc. purchased a new stake in shares of Corteva during the fourth quarter valued at about $263,000. Otter Creek Advisors LLC boosted its holdings in shares of Corteva by 50.4% in the 4th quarter. Otter Creek Advisors LLC now owns 63,900 shares of the company’s stock valued at $3,062,000 after buying an additional 21,404 shares in the last quarter. Finally, Jade Capital Advisors LLC purchased a new position in shares of Corteva in the 4th quarter worth approximately $1,677,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.6 %

Shares of CTVA stock opened at $54.92 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.81. The stock has a market cap of $38.28 billion, a P/E ratio of 69.52, a P/E/G ratio of 1.42 and a beta of 0.78. The stock has a 50 day moving average of $55.89 and a 200 day moving average of $51.96. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

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

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders 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 dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is currently 81.01%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CTVA shares. BMO Capital Markets lifted their price target on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Oppenheimer increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.05.

Get Our Latest Stock Report on Corteva

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Corteva news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock worth $4,795,016 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

About Corteva

(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.

Further Reading

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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