Wellington Management Group LLP Cuts Stake in Corteva, Inc. (NYSE:CTVA)

Wellington Management Group LLP trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 47.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 200,478 shares of the company’s stock after selling 177,482 shares during the quarter. Wellington Management Group LLP’s holdings in Corteva were worth $11,419,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Oak Thistle LLC purchased a new stake in Corteva during the 4th quarter valued at about $1,514,000. Van ECK Associates Corp lifted its stake in Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after acquiring an additional 525,531 shares during the period. Swedbank AB lifted its stake in Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after acquiring an additional 237,764 shares during the period. Assenagon Asset Management S.A. lifted its stake in Corteva by 755.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after acquiring an additional 488,181 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its stake in Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock valued at $5,474,000 after acquiring an additional 33,886 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CTVA. Bank of America upped their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada increased their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. UBS Group lowered their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Oppenheimer increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

Corteva Stock Up 5.7 %

Shares of NYSE:CTVA opened at $58.70 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $61.53 and a two-hundred day moving average of $60.23. The stock has a market cap of $40.09 billion, a P/E ratio of 45.50, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is 52.71%.

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.