Wells Fargo & Company MN Has $201.54 Million Position in Corteva, Inc. (NYSE:CTVA)

Wells Fargo & Company MN reduced its stake in Corteva, Inc. (NYSE:CTVA) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,205,676 shares of the company’s stock after selling 146,519 shares during the period. Wells Fargo & Company MN owned 0.60% of Corteva worth $201,536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CVA Family Office LLC bought a new stake in shares of Corteva in the fourth quarter valued at about $25,000. NewSquare Capital LLC boosted its position in shares of Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after acquiring an additional 226 shares during the period. Glass Jacobson Investment Advisors llc boosted its position in shares of Corteva by 234.3% in the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after acquiring an additional 389 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Corteva in the fourth quarter valued at about $27,000. Finally, Naples Money Management LLC bought a new stake in shares of Corteva in the fourth quarter valued at about $31,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now directly owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock valued at $4,795,016 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Corteva Price Performance

Shares of CTVA opened at $56.40 on Wednesday. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.81. The business’s fifty day moving average is $56.00 and its 200 day moving average is $51.33. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The stock has a market cap of $39.31 billion, a P/E ratio of 71.71, a P/E/G ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the business earned $1.16 EPS. Corteva’s quarterly revenue was down 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. Barclays upped their price objective on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Oppenheimer boosted their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, Royal Bank of Canada boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.24.

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.