Shell Asset Management Co. Sells 7,071 Shares of Corteva, Inc. (NYSE:CTVA)

Shell Asset Management Co. lowered its holdings in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 23.2% in the 4th quarter, HoldingsChannel reports. The firm owned 23,443 shares of the company’s stock after selling 7,071 shares during the period. Shell Asset Management Co.’s holdings in Corteva were worth $1,123,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after buying an additional 1,941,323 shares during the period. Capital International Investors grew its holdings in Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after purchasing an additional 8,260,808 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Corteva by 19.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after purchasing an additional 310,012 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Corteva by 11.6% in the 4th quarter. Van ECK Associates Corp now owns 8,528,252 shares of the company’s stock valued at $408,674,000 after buying an additional 883,161 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTVA. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Wells Fargo & Company lifted their price target on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Oppenheimer upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.05.

Read Our Latest Stock Analysis on Corteva

Insider Buying and Selling

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 transaction of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company’s 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 sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.20% of the stock is owned by company insiders.

Corteva Stock Performance

Shares of Corteva stock opened at $51.71 on Tuesday. The business’s fifty day simple moving average is $55.68 and its 200 day simple moving average is $52.12. 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, Inc. has a 12 month low of $43.22 and a 12 month high of $58.81. The firm has a market capitalization of $36.04 billion, a P/E ratio of 65.46, a price-to-earnings-growth ratio of 1.40 and a beta of 0.78.

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

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is currently 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.

Further Reading

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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