Corteva, Inc. (NYSE:CTVA) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its stake in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,773 shares of the company’s stock after selling 4,955 shares during the quarter. Cullinan Associates Inc.’s holdings in Corteva were worth $12,918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baron Silver Stevens Financial Advisors LLC bought a new position in shares of Corteva during the 3rd quarter valued at about $313,000. Legacy Bridge LLC boosted its holdings in Corteva by 73.9% during the fourth quarter. Legacy Bridge LLC now owns 433 shares of the company’s stock worth $25,000 after buying an additional 184 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in Corteva in the third quarter worth approximately $28,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Corteva in the third quarter valued at $29,000. Finally, JFS Wealth Advisors LLC lifted its position in shares of Corteva by 60.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $32,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 79.45% of the company’s stock.

Corteva Stock Down 0.6 %

Shares of Corteva stock opened at $56.61 on Friday. The firm has a market cap of $40.34 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 1.38 and a beta of 0.80. The stock has a 50-day simple moving average of $61.79 and a 200-day simple moving average of $62.17. Corteva, Inc. has a 52-week low of $50.03 and a 52-week high of $68.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 0.93.

Corteva (NYSE:CTVA – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.79 billion. Corteva had a net margin of 6.57% and a return on equity of 7.54%. Corteva’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. On average, equities research analysts expect that Corteva, Inc. will post 2.89 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.06%. Corteva’s dividend payout ratio (DPR) is presently 38.22%.

Insider Activity

In related news, CEO Charles V. Magro bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were acquired at an average price of $60.64 per share, with a total value of $2,425,600.00. Following the completion of the transaction, the chief executive officer now owns 126,095 shares of the company’s stock, valued at approximately $7,646,400.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. KeyCorp cut their target price on Corteva from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Bank of America raised shares of Corteva from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $64.00 to $68.00 in a research note on Wednesday, January 11th. Citigroup lifted their target price on shares of Corteva from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Morgan Stanley raised their price objective on shares of Corteva from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Finally, Mizuho boosted their target price on shares of Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 12th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $72.53.

Corteva Company Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.