Corteva, Inc. (NYSE:CTVA) Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 29.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,239,683 shares of the company’s stock after selling 1,365,925 shares during the quarter. JPMorgan Chase & Co.’s holdings in Corteva were worth $184,532,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after acquiring an additional 646,459 shares during the last quarter. State Street Corp boosted its position in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the period. Geode Capital Management LLC grew its stake in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after buying an additional 355,206 shares during the last quarter. Franklin Resources Inc. increased its position in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares during the period. Finally, Harris Associates L P lifted its stake in Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after buying an additional 200,917 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CTVA. KeyCorp upped their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.06.

Corteva Price Performance

Shares of Corteva stock opened at $62.96 on Tuesday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $62.55 and its two-hundred day moving average price is $60.19. The stock has a market cap of $43.00 billion, a PE ratio of 48.80, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

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.