Groupama Asset Managment Sells 22,899 Shares of Corteva, Inc. (NYSE:CTVA)

Groupama Asset Managment reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 83.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,552 shares of the company’s stock after selling 22,899 shares during the quarter. Groupama Asset Managment’s holdings in Corteva were worth $257,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva during the fourth quarter valued at $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva during the 4th quarter worth about $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the 4th quarter valued at about $32,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Corteva in the fourth quarter valued at about $34,000. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Oppenheimer raised their target price on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group assumed coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Down 4.3 %

Shares of CTVA opened at $61.25 on Friday. The firm’s fifty day moving average is $62.53 and its two-hundred day moving average is $60.27. The stock has a market cap of $41.84 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

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.