Russell Investments Group Ltd. Sells 44,507 Shares of Corteva, Inc. (NYSE:CTVA)

Russell Investments Group Ltd. lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 560,414 shares of the company’s stock after selling 44,507 shares during the period. Russell Investments Group Ltd.’s holdings in Corteva were worth $26,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Headlands Technologies LLC bought a new position in shares of Corteva in the 4th quarter valued at $326,000. Citizens Financial Group Inc. RI increased its stake in shares of Corteva by 4.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 12,265 shares of the company’s stock valued at $588,000 after purchasing an additional 550 shares during the last quarter. Jackson Hole Capital Partners LLC increased its stake in shares of Corteva by 36.9% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 9,165 shares of the company’s stock valued at $439,000 after purchasing an additional 2,470 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Corteva in the 4th quarter valued at $105,000. Finally, Schnieders Capital Management LLC increased its stake in shares of Corteva by 9.0% in the 4th quarter. Schnieders Capital Management LLC now owns 8,670 shares of the company’s stock valued at $415,000 after purchasing an additional 719 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and raised their price objective for the company from $57.00 to $65.00 in a report on Monday, February 12th. UBS Group cut their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Stock Performance

CTVA stock opened at $53.90 on Thursday. The stock has a 50-day moving average price of $55.28 and a 200-day moving average price of $50.56. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $61.07. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm has a market cap of $37.67 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the company posted $0.16 EPS. As a group, equities research analysts expect that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Corteva 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.