Axxcess Wealth Management LLC Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Axxcess Wealth Management LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,634 shares of the company’s stock after selling 641 shares during the period. Axxcess Wealth Management LLC’s holdings in Corteva were worth $2,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors boosted its holdings in Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares in the last quarter. Norges Bank acquired a new position in shares of Corteva in the 4th quarter valued at $265,298,000. Harris Associates L P grew its position in shares of Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after buying an additional 4,194,981 shares during the last quarter. Glenview Capital Management LLC raised its stake in Corteva by 116.6% during the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after acquiring an additional 2,529,539 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Corteva by 19.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after acquiring an additional 2,141,428 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Brian Titus sold 12,134 shares of the company’s 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 owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,556 shares of company stock valued at $4,795,016. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CTVA. Canaccord Genuity Group upped their target price on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company lifted their price objective on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Barclays boosted their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Finally, Royal Bank of Canada boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Up 0.2 %

CTVA stock traded up $0.11 during mid-day trading on Friday, hitting $55.39. 2,271,938 shares of the company were exchanged, compared to its average volume of 3,425,468. The firm has a fifty day simple moving average of $53.70 and a 200 day simple moving average of $53.52. The company has a market capitalization of $38.61 billion, a PE ratio of 70.48, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the business posted $1.16 EPS. Corteva’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, research analysts forecast that Corteva, Inc. will post 2.78 earnings per share for the current fiscal year.

Corteva Company 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.