Capital International Sarl Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

Capital International Sarl reduced its position in Corteva, Inc. (NYSE:CTVA) by 24.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 49,604 shares of the company’s stock after selling 16,477 shares during the period. Capital International Sarl’s holdings in Corteva were worth $2,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CTVA. CVA Family Office LLC acquired a new stake in Corteva during the 4th quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the first quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in Corteva during the 1st quarter worth $25,000. BKM Wealth Management LLC bought a new position in Corteva in the 4th quarter valued at about $27,000. Finally, Rise Advisors LLC boosted its holdings in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. Mizuho cut their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. BMO Capital Markets upped their price objective on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group increased their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. KeyCorp upped their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.00.

Corteva Stock Performance

Shares of Corteva stock traded up $0.11 during trading hours on Friday, hitting $55.39. 2,237,847 shares of the company’s stock traded hands, compared to its average volume of 3,425,469. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The stock has a market capitalization of $38.61 billion, a price-to-earnings ratio of 70.11, a PEG ratio of 1.45 and a beta of 0.77. The company has a fifty day simple moving average of $53.68 and a 200-day simple moving average of $53.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts anticipate that Corteva, Inc. will post 2.78 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,556 shares of company stock worth $4,795,016. 0.14% of the stock is currently owned by insiders.

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.