Pictet Asset Management Holding SA Has $19.31 Million Position in Corteva, Inc. (NYSE:CTVA)

Pictet Asset Management Holding SA cut its holdings in Corteva, Inc. (NYSE:CTVA) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 339,057 shares of the company’s stock after selling 10,352 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Corteva were worth $19,313,000 at the end of the most recent quarter.

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

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTVA. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group began coverage on Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target on the stock. UBS Group reduced their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday. Finally, Bank of America increased their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Corteva Stock Performance

Corteva stock opened at $63.54 on Wednesday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a fifty day moving average price of $62.56 and a two-hundred day moving average price of $60.23. The firm has a market capitalization of $43.40 billion, a P/E ratio of 49.26, a P/E/G ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (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, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm 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. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.