Simplicity Solutions LLC Sells 1,641 Shares of Corteva, Inc. (NYSE:CTVA)

Simplicity Solutions LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,002 shares of the company’s stock after selling 1,641 shares during the period. Simplicity Solutions LLC’s holdings in Corteva were worth $575,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CTVA. Vanguard Group Inc. increased its holdings in shares of Corteva by 2.4% during the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. Geode Capital Management LLC raised its holdings in Corteva by 1.4% in the first quarter. Geode Capital Management LLC now owns 14,726,824 shares of the company’s stock worth $886,490,000 after buying an additional 208,948 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Corteva by 2.7% in the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after buying an additional 327,321 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Corteva by 29.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after buying an additional 2,545,570 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Corteva by 8.6% during the fourth quarter. Morgan Stanley now owns 9,452,940 shares of the company’s stock valued at $555,644,000 after acquiring an additional 746,972 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTVA shares. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. UBS Group dropped their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. KeyCorp boosted their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Oppenheimer raised their price target on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $65.00 in a report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Stock Performance

Shares of CTVA opened at $53.53 on Thursday. The business has a 50-day simple moving average of $55.19 and a two-hundred day simple moving average of $50.24. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $63.06. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 52.48, a PEG ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the company posted $0.16 EPS. On average, analysts expect that Corteva, Inc. will post 2.86 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.20%. Corteva’s payout ratio is 62.75%.

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.