Deutsche Bank AG Buys 703,761 Shares of Corteva, Inc. (NYSE:CTVA)

Deutsche Bank AG lifted its position in Corteva, Inc. (NYSE:CTVA) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,052,081 shares of the company’s stock after acquiring an additional 703,761 shares during the quarter. Deutsche Bank AG’s holdings in Corteva were worth $230,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors raised its stake in shares of Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after purchasing an additional 12,381,436 shares during the period. Independent Franchise Partners LLP raised its position in Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after acquiring an additional 5,604,838 shares during the period. Norges Bank bought a new stake in Corteva in the fourth quarter worth about $251,892,000. Raymond James Financial Inc. purchased a new position in Corteva in the fourth quarter valued at about $161,052,000. Finally, Franklin Resources Inc. grew its position in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after acquiring an additional 1,354,418 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank of Canada upped their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. UBS Group lifted their target price on shares of Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $69.64.

Corteva Price Performance

NYSE:CTVA opened at $67.70 on Friday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $67.93. The stock has a fifty day moving average of $60.87 and a 200 day moving average of $60.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The firm has a market capitalization of $46.24 billion, a price-to-earnings ratio of 52.48, a P/E/G ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. Corteva’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. On average, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is currently 41.46%.

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.