Highland Capital Management LLC reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,584 shares of the company’s stock after selling 1,885 shares during the quarter. Highland Capital Management LLC’s holdings in Corteva were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Aristotle Capital Management LLC grew its holdings in Corteva by 1.3% during the 4th quarter. Aristotle Capital Management LLC now owns 26,570,900 shares of the company’s stock valued at $1,028,825,000 after buying an additional 332,087 shares in the last quarter. Starboard Value LP boosted its position in shares of Corteva by 23.3% during the 4th quarter. Starboard Value LP now owns 14,433,599 shares of the company’s stock valued at $558,869,000 after acquiring an additional 2,723,270 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Corteva by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 7,844,840 shares of the company’s stock valued at $303,752,000 after acquiring an additional 1,013,239 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Corteva by 4.6% during the 4th quarter. Principal Financial Group Inc. now owns 5,689,534 shares of the company’s stock valued at $220,299,000 after acquiring an additional 249,837 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Corteva by 821.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,865,824 shares of the company’s stock valued at $149,685,000 after acquiring an additional 3,446,310 shares during the last quarter. 77.15% of the stock is owned by institutional investors and hedge funds.

Shares of Corteva stock opened at $49.73 on Tuesday. The firm has a market cap of $36.83 billion, a P/E ratio of 60.65, a P/E/G ratio of 1.90 and a beta of 0.82. The company has a current ratio of 1.82, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. Corteva, Inc. has a 12 month low of $22.38 and a 12 month high of $49.98. The stock’s fifty day moving average price is $47.49 and its 200-day moving average price is $41.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, February 2nd. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.95 billion. Corteva had a return on equity of 4.70% and a net margin of 4.42%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share. Analysts forecast that Corteva, Inc. will post 1.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 14th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.05%. Corteva’s dividend payout ratio (DPR) is presently 36.36%.

CTVA has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and increased their target price for the company from $32.00 to $51.00 in a research report on Friday, February 5th. Barclays raised their price target on Corteva from $37.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, February 5th. UBS Group raised their price target on Corteva from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Deutsche Bank Aktiengesellschaft raised their price target on Corteva from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 8th. Finally, Monness Crespi & Hardt raised their price target on Corteva from $24.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, February 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Corteva currently has an average rating of “Hold” and an average target price of $43.76.

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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