Royal London Asset Management Ltd. Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Royal London Asset Management Ltd. raised its stake in Corteva, Inc. (NYSE:CTVA) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 296,058 shares of the company’s stock after purchasing an additional 4,295 shares during the period. Royal London Asset Management Ltd.’s holdings in Corteva were worth $16,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC grew its stake in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after purchasing an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after acquiring an additional 157 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after acquiring an additional 158 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after acquiring an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its holdings in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.2 %

Corteva stock opened at $61.70 on Friday. The stock has a market capitalization of $42.30 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The business has a 50 day simple moving average of $62.44 and a 200-day simple moving average of $59.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

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

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group assumed coverage on Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.00.

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.