Jennison Associates LLC Sells 2,742 Shares of Corteva, Inc. (NYSE:CTVA)

Jennison Associates LLC lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 210,054 shares of the company’s stock after selling 2,742 shares during the quarter. Jennison Associates LLC’s holdings in Corteva were worth $10,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. CVA Family Office LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in Corteva during the fourth quarter valued at $27,000. NewSquare Capital LLC grew its stake in shares of Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after buying an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its stake in Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares during the last quarter. Finally, Union Savings Bank raised its holdings in Corteva by 58.5% during the 3rd quarter. Union Savings Bank now owns 577 shares of the company’s stock valued at $30,000 after buying an additional 213 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.1 %

Shares of CTVA stock opened at $54.70 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.87. The stock has a market cap of $38.23 billion, a P/E ratio of 53.63, a P/E/G ratio of 1.43 and a beta of 0.77. The stock has a 50 day moving average of $55.28 and a 200 day moving average of $50.43. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business posted $0.16 EPS. As a group, sell-side analysts expect that Corteva, Inc. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTVA. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a report on Friday, February 2nd. Barclays lifted their price objective on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and upped their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. UBS Group cut their price objective on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Finally, KeyCorp upped their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

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.