Corteva, Inc. (NYSE:CTVA) Shares Sold by Simplicity Solutions LLC

Simplicity Solutions LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 12.0% in the fourth quarter, Holdings Channel reports. The firm owned 12,002 shares of the company’s stock after selling 1,641 shares during the period. Simplicity Solutions LLC’s holdings in Corteva were worth $575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. Geode Capital Management LLC boosted its stake in Corteva by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 14,726,824 shares of the company’s stock worth $886,490,000 after purchasing an additional 208,948 shares in the last quarter. Northern Trust Corp grew its position in Corteva by 2.7% during the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after purchasing an additional 327,321 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Corteva by 29.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after purchasing an additional 2,545,570 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Corteva by 8.6% in the fourth quarter. Morgan Stanley now owns 9,452,940 shares of the company’s stock worth $555,644,000 after buying an additional 746,972 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Up 0.4 %

Corteva stock opened at $53.53 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The stock has a market capitalization of $37.41 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. The business has a 50 day simple moving average of $55.19 and a 200-day simple moving average of $50.24. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $63.06.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, analysts anticipate that Corteva, Inc. will post 2.86 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.20%. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTVA. Wells Fargo & Company upped their target price on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Barclays raised their price objective on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Mizuho decreased their target price on Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 1st. UBS Group cut their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Finally, Oppenheimer lifted their price objective on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $63.29.

About Corteva

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.