Bessemer Group Inc. Has $176.05 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Bessemer Group Inc. lifted its position in Corteva, Inc. (NYSE:CTVA) by 44.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,090,839 shares of the company’s stock after purchasing an additional 956,775 shares during the quarter. Bessemer Group Inc.’s holdings in Corteva were worth $176,053,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CTVA. Vanguard Group Inc. boosted its stake in Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. Geode Capital Management LLC lifted its position in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after buying an additional 355,206 shares in the last quarter. Franklin Resources Inc. lifted its position in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after buying an additional 1,354,418 shares in the last quarter. Invesco Ltd. increased its position in Corteva by 2.4% in the 4th quarter. Invesco Ltd. now owns 11,074,633 shares of the company’s stock valued at $630,811,000 after acquiring an additional 264,531 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after acquiring an additional 525,531 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the 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 completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the subject of several analyst reports. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, March 31st. Finally, Barclays increased their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Corteva Price Performance

Shares of CTVA opened at $55.46 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The stock has a market capitalization of $37.88 billion, a P/E ratio of 42.99, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a 50 day moving average of $61.81 and a 200-day moving average of $60.24.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. Corteva’s dividend payout ratio is 52.71%.

About Corteva

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.