Fosun International Ltd Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Fosun International Ltd decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,500 shares of the company’s stock after selling 1,550 shares during the period. Fosun International Ltd’s holdings in Corteva were worth $455,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in shares of Corteva in the fourth quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in shares of Corteva during the fourth quarter worth $27,000. NewSquare Capital LLC grew its stake in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after buying an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its position in Corteva by 234.3% during the 3rd 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 period. Finally, Naples Money Management LLC bought a new stake in shares of Corteva during the 4th quarter worth about $31,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 1.5 %

NYSE CTVA traded up $0.87 during mid-day trading on Thursday, reaching $57.69. The stock had a trading volume of 276,058 shares, compared to its average volume of 3,536,696. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.81. The stock has a market cap of $40.21 billion, a PE ratio of 71.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. The company has a fifty day moving average price of $55.45 and a 200 day moving average price of $50.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. During the same quarter last year, the firm posted $1.16 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, research analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CTVA shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Royal Bank of Canada raised their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and lifted their target price for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Canaccord Genuity Group lifted their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, KeyCorp lifted 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 equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $63.24.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

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.