Fieldview Capital Management LLC lowered its stake in Corteva, Inc. (NYSE:CTVA – Free Report) by 81.4% in the fourth quarter, Holdings Channel reports. The fund owned 13,168 shares of the company’s stock after selling 57,653 shares during the quarter. Fieldview Capital Management LLC’s holdings in Corteva were worth $883,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Corteva by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock worth $5,398,392,000 after acquiring an additional 317,538 shares during the last quarter. State Street Corp lifted its holdings in shares of Corteva by 3.7% in the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after acquiring an additional 1,290,071 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Corteva by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after acquiring an additional 805,873 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Corteva by 1.8% in the third quarter. Northern Trust Corp now owns 11,169,284 shares of the company’s stock worth $755,379,000 after acquiring an additional 194,728 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Corteva by 1.4% in the fourth quarter. Morgan Stanley now owns 8,931,814 shares of the company’s stock worth $598,700,000 after acquiring an additional 122,308 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.
Corteva Stock Down 0.0%
Shares of NYSE CTVA opened at $76.14 on Monday. The company has a 50 day simple moving average of $80.39 and a 200 day simple moving average of $75.38. The firm has a market cap of $50.92 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.57. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $85.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03.
Corteva Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio (DPR) is presently 42.35%.
Analysts Set New Price Targets
A number of research firms have recently commented on CTVA. Oppenheimer increased their target price on shares of Corteva from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. CICC Research increased their target price on shares of Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. The Goldman Sachs Group raised their price objective on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Jefferies Financial Group raised their price objective on shares of Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Finally, Berenberg Bank raised their price objective on shares of Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, March 26th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $88.81.
Get Our Latest Analysis on Corteva
Corteva Company Profile
Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.
Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.
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