Corteva, Inc. (NYSE:CTVA) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 1.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 210,054 shares of the company’s stock after selling 2,742 shares during the period. Jennison Associates LLC’s holdings in Corteva were worth $10,066,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTVA. WCM Investment Management LLC grew its stake in shares of Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after buying an additional 213,949 shares during the period. 17 Capital Partners LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $1,649,000. Factory Mutual Insurance Co. raised its holdings in shares of Corteva by 10.7% during the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after buying an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Corteva by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after acquiring an additional 68,593 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Corteva by 1.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after acquiring an additional 31,171 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Wolfe Research started coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price for the company. Barclays upped their price target on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, UBS Group decreased their price objective on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Stock Performance

Shares of CTVA stock opened at $54.70 on Friday. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $61.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The firm has a market capitalization of $38.23 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77. The business has a 50 day simple moving average of $55.28 and a 200 day simple moving average of $50.43.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period last year, the company earned $0.16 earnings per share. On average, equities research analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva 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.