Cullinan Associates Inc. Sells 4,955 Shares of Corteva, Inc. (NYSE:CTVA)

Cullinan Associates Inc. decreased its stake in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 2.2% in the 4th quarter, Holdings Channel reports. The fund owned 219,773 shares of the company’s stock after selling 4,955 shares during the quarter. Cullinan Associates Inc.’s holdings in Corteva were worth $12,918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTVA. Arrowstreet Capital Limited Partnership grew its stake in shares of Corteva by 244.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,133,182 shares of the company’s stock worth $122,615,000 after acquiring an additional 1,513,063 shares in the last quarter. FMR LLC boosted its holdings in Corteva by 8.0% during the second quarter. FMR LLC now owns 16,030,378 shares of the company’s stock worth $867,885,000 after purchasing an additional 1,192,696 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Corteva by 691.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,301,414 shares of the company’s stock valued at $74,376,000 after purchasing an additional 1,136,916 shares in the last quarter. Franklin Resources Inc. increased its stake in Corteva by 68.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,649,742 shares of the company’s stock valued at $143,457,000 after buying an additional 1,073,553 shares during the last quarter. Finally, PGGM Investments bought a new stake in Corteva during the 3rd quarter worth about $58,447,000. 79.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTVA. Citigroup raised their price objective on Corteva from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Mizuho boosted their price target on Corteva from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, January 12th. Wells Fargo & Company dropped their price objective on Corteva from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. KeyCorp decreased their target price on shares of Corteva from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Finally, Morgan Stanley upped their price target on shares of Corteva from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 11th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average target price of $72.53.

Corteva Trading Down 0.6 %

Shares of NYSE:CTVA opened at $56.61 on Friday. Corteva, Inc. has a 12-month low of $50.03 and a 12-month high of $68.43. The business has a 50 day moving average of $61.79 and a 200-day moving average of $62.17. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. The stock has a market cap of $40.34 billion, a PE ratio of 36.06, a P/E/G ratio of 1.38 and a beta of 0.80.

Corteva (NYSE:CTVA – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.10. Corteva had a return on equity of 7.54% and a net margin of 6.57%. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts forecast that Corteva, Inc. will post 2.89 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.06%. Corteva’s dividend payout ratio (DPR) is presently 38.22%.

Insider Buying and Selling

In other Corteva news, CEO Charles V. Magro acquired 40,000 shares of the business’s stock in a transaction on Monday, February 6th. The stock was purchased at an average price of $60.64 per share, with a total value of $2,425,600.00. Following the acquisition, the chief executive officer now directly owns 126,095 shares of the company’s stock, valued at approximately $7,646,400.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by insiders.

Corteva Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.