Advisory Services Network LLC Lowers Stake in Corteva, Inc. (NYSE:CTVA)

Advisory Services Network LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 12.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,831 shares of the company’s stock after selling 1,446 shares during the quarter. Advisory Services Network LLC’s holdings in Corteva were worth $560,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after buying an additional 646,459 shares during the last quarter. Franklin Resources Inc. raised its holdings in Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares in the last quarter. Invesco Ltd. lifted its position in Corteva by 2.4% in the fourth quarter. Invesco Ltd. now owns 11,074,633 shares of the company’s stock valued at $630,811,000 after purchasing an additional 264,531 shares during the period. Van ECK Associates Corp boosted its holdings in Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after purchasing an additional 525,531 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Corteva by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,691,738 shares of the company’s stock worth $267,241,000 after purchasing an additional 167,742 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. UBS Group decreased their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America upped their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. Finally, Barclays lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.13.

Corteva Stock Down 1.0 %

Shares of CTVA opened at $59.68 on Wednesday. The firm has a market cap of $40.77 billion, a PE ratio of 46.27, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. 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 company’s fifty day moving average is $61.15 and its two-hundred day moving average is $60.27. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

Corteva (NYSE:CTVA) last posted its quarterly earnings results 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%. Analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was 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 $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.