Bellwether Advisors LLC Takes $97,000 Position in Corteva, Inc. (NYSE:CTVA)

Bellwether Advisors LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,696 shares of the company’s stock, valued at approximately $97,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. Independent Franchise Partners LLP boosted its position in Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after buying an additional 5,604,838 shares during the period. Franklin Resources Inc. boosted its position in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after buying an additional 1,354,418 shares during the period. Capital World Investors boosted its position in Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after buying an additional 12,381,436 shares during the period. Finally, Invesco Ltd. boosted its position in Corteva by 2.4% during the 4th quarter. Invesco Ltd. now owns 11,074,633 shares of the company’s stock worth $630,811,000 after buying an additional 264,531 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. KeyCorp lifted their target price on shares of Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Oppenheimer raised their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised 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. Finally, Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.13.

Corteva Stock Performance

Corteva stock opened at $61.66 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $42.11 billion, a PE ratio of 47.80, a P/E/G ratio of 1.68 and a beta of 0.73. The firm has a fifty day simple moving average of $60.67 and a two-hundred day simple moving average of $60.47. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

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

Insider Buying and Selling at Corteva

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

Corteva 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.