Sei Investments Co. grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 919,208 shares of the company’s stock after buying an additional 50,350 shares during the period. Sei Investments Co.’s holdings in Corteva were worth $42,543,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CTVA. Sterling Financial Planning Inc. acquired a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. Montag A & Associates Inc. acquired a new stake in shares of Corteva during the 4th quarter worth approximately $27,000. ADE LLC acquired a new stake in shares of Corteva during the 4th quarter worth approximately $27,000. Finally, Childress Capital Advisors LLC acquired a new stake in shares of Corteva during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 79.59% of the company’s stock.
CTVA opened at $44.56 on Friday. The company has a market cap of $32.85 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 1.62 and a beta of 0.83. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $46.82. Corteva, Inc. has a fifty-two week low of $24.83 and a fifty-two week high of $49.98.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Friday, May 14th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, May 13th. Corteva’s dividend payout ratio is presently 34.67%.
In other Corteva news, EVP Rajan Gajaria bought 2,600 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was acquired at an average price of $49.67 per share, with a total value of $129,142.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Titus sold 29,937 shares of the firm’s stock in a transaction on Friday, May 7th. The stock was sold at an average price of $49.04, for a total value of $1,468,110.48. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
A number of analysts have recently weighed in on the company. Argus increased their price target on Corteva from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, May 17th. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Monday, April 19th. KeyCorp raised their target price on Corteva from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, April 12th. Zacks Investment Research cut Corteva from a “buy” rating to a “hold” rating in a research report on Tuesday, May 11th. Finally, Bank of America cut Corteva from a “buy” rating to an “underperform” rating and lowered their target price for the company from $50.00 to $42.00 in a research report on Monday, May 10th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.07.
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.
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