Jennison Associates LLC Sells 108,848 Shares of Corteva, Inc. $CTVA

Jennison Associates LLC reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 38.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 172,501 shares of the company’s stock after selling 108,848 shares during the period. Jennison Associates LLC’s holdings in Corteva were worth $11,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Chilton Capital Management LLC increased its stake in shares of Corteva by 18.1% during the third quarter. Chilton Capital Management LLC now owns 445,350 shares of the company’s stock worth $30,119,000 after purchasing an additional 68,380 shares during the period. Drummond Knight Asset Management Pty Ltd bought a new position in shares of Corteva during the fourth quarter worth approximately $25,713,000. TriaGen Wealth Management LLC bought a new position in shares of Corteva during the third quarter worth approximately $4,284,000. Truist Financial Corp increased its stake in shares of Corteva by 4.5% during the third quarter. Truist Financial Corp now owns 321,913 shares of the company’s stock worth $21,771,000 after purchasing an additional 13,910 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of Corteva by 4.5% during the third quarter. New York State Teachers Retirement System now owns 551,389 shares of the company’s stock worth $37,290,000 after purchasing an additional 23,548 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CTVA shares. UBS Group increased their target price on Corteva from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. BNP Paribas Exane increased their target price on Corteva from $72.00 to $74.00 in a research note on Monday, March 9th. Wolfe Research increased their target price on Corteva from $81.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Bank of America increased their price target on Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Berenberg Bank increased their price target on Corteva from $68.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, March 26th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $86.38.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 8,311 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $76.55, for a total value of $636,207.05. Following the sale, the insider owned 8,090 shares of the company’s stock, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Corteva Trading Down 0.1%

Shares of NYSE:CTVA opened at $80.97 on Friday. The company has a market capitalization of $54.36 billion, a P/E ratio of 51.24, a P/E/G ratio of 2.77 and a beta of 0.59. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $85.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.96. The business’s 50 day simple moving average is $80.39 and its 200 day simple moving average is $72.12.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $4.23 billion. Corteva had a return on equity of 9.06% and a net margin of 6.29%.The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts anticipate that Corteva, Inc. will post 3.62 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Corteva’s dividend payout ratio (DPR) is currently 45.57%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.