Capital International Ltd. CA Lowers Stock Position in Corteva, Inc. (NYSE:CTVA)

Capital International Ltd. CA lessened its stake in Corteva, Inc. (NYSE:CTVA) by 25.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,658 shares of the company’s stock after selling 15,277 shares during the period. Capital International Ltd. CA’s holdings in Corteva were worth $2,575,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CTVA. Capital International Investors raised its holdings in shares of Corteva by 2.6% during the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after buying an additional 678,722 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after acquiring an additional 2,141,428 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after purchasing an additional 310,012 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Corteva by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after purchasing an additional 617,030 shares during the last quarter. Finally, Harris Associates L P raised its position in Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent research reports. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Mizuho reduced their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Royal Bank of Canada boosted their price objective on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. KeyCorp raised their target price 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, BMO Capital Markets upped their price target on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 directly 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 worth $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Up 0.2 %

CTVA traded up $0.11 on Friday, hitting $55.39. The company had a trading volume of 2,237,847 shares, compared to its average volume of 3,425,469. The stock 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. The firm has a market capitalization of $38.61 billion, a P/E ratio of 70.11, a P/E/G ratio of 1.45 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76.

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

About Corteva

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.