Sei Investments Co. lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 5.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 919,208 shares of the company’s stock after acquiring an additional 50,350 shares during the period. Sei Investments Co. owned 0.12% of Corteva worth $42,543,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Aristotle Capital Management LLC raised its position in shares of Corteva by 1.3% during the 4th quarter. Aristotle Capital Management LLC now owns 26,570,900 shares of the company’s stock worth $1,028,825,000 after acquiring an additional 332,087 shares in the last quarter. Starboard Value LP raised 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 worth $558,869,000 after acquiring an additional 2,723,270 shares in the last quarter. Bank of New York Mellon Corp increased its position in Corteva by 14.8% during the fourth quarter. Bank of New York Mellon Corp now owns 7,844,840 shares of the company’s stock worth $303,752,000 after buying an additional 1,013,239 shares during the period. Boston Partners increased its position in Corteva by 9.4% during the first quarter. Boston Partners now owns 6,892,828 shares of the company’s stock worth $321,387,000 after buying an additional 589,556 shares during the period. Finally, Principal Financial Group Inc. increased its position in Corteva by 2.6% during the first quarter. Principal Financial Group Inc. now owns 5,834,877 shares of the company’s stock worth $272,023,000 after buying an additional 145,368 shares during the period. 79.59% of the stock is currently owned by institutional investors and hedge funds.
CTVA opened at $44.56 on Friday. The business’s fifty day moving average price is $46.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.19 and a current ratio of 1.67. The stock has a market capitalization of $32.85 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.83. Corteva, Inc. has a one year low of $24.83 and a one year high of $49.98.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 14th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, May 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.17%. Corteva’s payout ratio is 34.67%.
In related news, EVP Rajan Gajaria acquired 2,600 shares of Corteva stock in a transaction dated Monday, May 10th. The shares were acquired at an average cost of $49.67 per share, for a total transaction of $129,142.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Samuel R. Eathington acquired 3,290 shares of Corteva stock in a transaction dated Thursday, May 13th. The stock was bought at an average price of $45.57 per share, for a total transaction of $149,925.30. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.
CTVA has been the topic of several research analyst reports. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Monday, April 19th. KeyCorp lifted their price target on Corteva from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, April 12th. Bank of America lowered Corteva from a “buy” rating to an “underperform” rating and cut their price target for the stock from $50.00 to $42.00 in a research report on Monday, May 10th. Morgan Stanley lifted their price target on Corteva from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, May 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Corteva from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 6th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $47.07.
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.
Further Reading: Holder of Record
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