Seven Eight Capital LP Boosts Stake in Corteva, Inc. (NYSE:CTVA)

Seven Eight Capital LP grew its position in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 21.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,316 shares of the company’s stock after acquiring an additional 3,823 shares during the period. Seven Eight Capital LP’s holdings in Corteva were worth $1,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC grew its holdings in shares of Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares during the period. California State Teachers Retirement System boosted its position in shares of Corteva by 15.1% in the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after purchasing an additional 181,883 shares in the last quarter. 17 Capital Partners LLC bought a new stake in shares of Corteva in the 4th quarter worth approximately $1,649,000. Factory Mutual Insurance Co. boosted its position in shares of Corteva by 10.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after purchasing an additional 51,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Corteva by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after purchasing an additional 31,171 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 3.7 %

Shares of CTVA stock opened at $52.90 on Monday. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The firm has a market capitalization of $36.87 billion, a PE ratio of 66.96, a PEG ratio of 1.40 and a beta of 0.78. The stock has a fifty day simple moving average of $55.80 and a two-hundred day simple moving average of $52.09.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue was down 8.0% on a year-over-year basis. On average, analysts predict that Corteva, Inc. will post 2.82 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Analyst Ratings Changes

CTVA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Corteva from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Finally, KeyCorp upped their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.05.

View Our Latest Stock Report on Corteva

Insider Buying and Selling at Corteva

In related news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 in the last 90 days. Insiders own 0.20% of the company’s stock.

Corteva Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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