Bristol Gate Capital Partners Inc. Sells 35,361 Shares of Corteva, Inc. (NYSE:CTVA)

Bristol Gate Capital Partners Inc. trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,722,139 shares of the company’s stock after selling 35,361 shares during the period. Corteva makes up about 4.8% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 6th largest holding. Bristol Gate Capital Partners Inc. owned approximately 0.25% of Corteva worth $98,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of Corteva by 2.4% in the fourth quarter. Invesco Ltd. now owns 11,074,633 shares of the company’s stock valued at $630,811,000 after purchasing an additional 264,531 shares during the period. Sepio Capital LP boosted its holdings in Corteva by 3.2% in the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock valued at $305,000 after purchasing an additional 166 shares during the period. Quadrant Capital Group LLC grew its stake in Corteva by 4.9% during the 4th quarter. Quadrant Capital Group LLC now owns 7,001 shares of the company’s stock worth $399,000 after purchasing an additional 329 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co increased its holdings in Corteva by 44.4% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 65,000 shares of the company’s stock worth $3,702,000 after purchasing an additional 20,000 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Corteva by 36.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,215,926 shares of the company’s stock valued at $126,219,000 after purchasing an additional 597,739 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insiders Place Their Bets

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CTVA has been the topic of several analyst reports. UBS Group reduced their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, March 31st. Wells Fargo & Company raised their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Corteva Trading Down 9.2 %

Shares of CTVA stock opened at $55.66 on Monday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business’s fifty day moving average price is $62.36 and its 200 day moving average price is $60.31. The firm has a market capitalization of $38.02 billion, a PE ratio of 43.15, a P/E/G ratio of 1.68 and a beta of 0.73.

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

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

About Corteva

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.