Wells Fargo & Company MN Lowers Stake in Corteva, Inc. (NYSE:CTVA)

Wells Fargo & Company MN cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,652,155 shares of the company’s stock after selling 54,143 shares during the quarter. Wells Fargo & Company MN owned about 0.97% of Corteva worth $378,907,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Oak Thistle LLC purchased a new position in Corteva in the fourth quarter valued at about $1,514,000. Van ECK Associates Corp grew 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 valued at $537,031,000 after buying an additional 525,531 shares in the last quarter. Swedbank AB raised its holdings in shares of Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after buying an additional 237,764 shares during the period. Assenagon Asset Management S.A. lifted its position in Corteva by 755.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after acquiring an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its holdings in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after acquiring an additional 33,886 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup lifted their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. 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. KeyCorp lifted their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Corteva Stock Performance

Shares of CTVA stock opened at $55.66 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $62.36 and a two-hundred day moving average of $60.26. The company has a market cap of $38.02 billion, a P/E ratio of 43.15, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 52 week low of $50.01 and a 52 week 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 (EPS) 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, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

Corteva 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.