Coldstream Capital Management Inc. Acquires Shares of 7,406 Corteva, Inc. (NYSE:CTVA)

Posted by on Mar 22nd, 2023

Coldstream Capital Management Inc. bought a new stake in Corteva, Inc. (NYSE:CTVA – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,406 shares of the company’s stock, valued at approximately $435,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Arrowstreet Capital Limited Partnership grew its position in shares of Corteva by 244.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,133,182 shares of the company’s stock valued at $122,615,000 after purchasing an additional 1,513,063 shares during the last quarter. FMR LLC grew its position in shares of Corteva by 8.0% in the second quarter. FMR LLC now owns 16,030,378 shares of the company’s stock valued at $867,885,000 after purchasing an additional 1,192,696 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Corteva by 691.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,301,414 shares of the company’s stock valued at $74,376,000 after purchasing an additional 1,136,916 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Corteva by 68.1% in the second quarter. Franklin Resources Inc. now owns 2,649,742 shares of the company’s stock valued at $143,457,000 after purchasing an additional 1,073,553 shares during the last quarter. Finally, PGGM Investments acquired a new position in shares of Corteva in the third quarter valued at approximately $58,447,000. Institutional investors and hedge funds own 79.45% of the company’s stock.

Insider Activity at Corteva

In related news, CEO Charles V. Magro bought 40,000 shares of Corteva stock in a transaction that occurred on Monday, February 6th. The shares were acquired at an average cost of $60.64 per share, for a total transaction of $2,425,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 126,095 shares of the company’s stock, valued at approximately $7,646,400.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on Corteva from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, January 11th. Mizuho increased their price target on Corteva from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, January 12th. Wells Fargo & Company reduced their price target on Corteva from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. OTR Global downgraded Corteva to a “positive” rating in a research report on Wednesday, March 8th. Finally, Citigroup increased their price target on Corteva from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.53.

Corteva Stock Up 1.5 %

Shares of CTVA opened at $58.51 on Wednesday. Corteva, Inc. has a 52 week low of $50.03 and a 52 week high of $68.43. The stock has a market capitalization of $41.69 billion, a price-to-earnings ratio of 37.27, a PEG ratio of 1.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.93 and a current ratio of 1.56. The stock has a fifty day moving average of $61.65 and a 200-day moving average of $62.13.

Corteva (NYSE:CTVA – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Corteva had a return on equity of 7.54% and a net margin of 6.57%. Corteva’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.89 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, February 28th. Corteva’s dividend payout ratio is currently 38.22%.

Corteva Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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