Corteva, Inc. (NYSE:CTVA) Shares Sold by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 612,639 shares of the company’s stock after selling 3,688 shares during the quarter. Corteva comprises approximately 2.8% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 14th biggest position. Bronte Capital Management Pty Ltd.’s holdings in Corteva were worth $29,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CVA Family Office LLC acquired a new stake in Corteva in the fourth quarter worth $25,000. NewSquare Capital LLC lifted its position in Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after purchasing an additional 389 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter valued at approximately $27,000. Finally, Naples Money Management LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $31,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of Corteva stock traded up $1.01 during trading on Thursday, reaching $57.83. The company’s stock had a trading volume of 4,006,327 shares, compared to its average volume of 3,579,707. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.81. The stock has a 50-day moving average price of $55.50 and a two-hundred day moving average price of $50.78. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $40.31 billion, a P/E ratio of 73.20, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CTVA shares. UBS Group lowered their price target on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. KeyCorp raised their target price on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Mizuho raised their price objective on shares of Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and upped their target price for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.24.

Insider Activity

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated 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 owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company 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.