Baxter Bros Inc. Acquires 236 Shares of Corteva, Inc. (NYSE:CTVA)

Baxter Bros Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,012 shares of the company’s stock after acquiring an additional 236 shares during the period. Baxter Bros Inc.’s holdings in Corteva were worth $855,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. State Street Corp lifted its position in shares of Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the last quarter. Geode Capital Management LLC boosted its stake in Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after buying an additional 355,206 shares in the last quarter. Franklin Resources Inc. grew its position in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares during the last quarter. Finally, Harris Associates L P raised its stake in Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after acquiring an additional 200,917 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTVA. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Citigroup upped their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. Finally, Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Corteva Trading Up 0.7 %

NYSE CTVA opened at $62.12 on Tuesday. The stock has a market capitalization of $42.59 billion, a P/E ratio of 48.16, a P/E/G ratio of 1.68 and a beta of 0.79. The business has a 50 day simple moving average of $62.48 and a 200 day simple moving average of $59.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

Corteva (NYSE:CTVA) last released 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 net margin of 5.36% and a return on equity of 7.19%. Research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared 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 yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.