Bristol Gate Capital Partners Inc. Has $98.09 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Bristol Gate Capital Partners Inc. reduced its position in Corteva, Inc. (NYSE:CTVA) by 2.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,722,139 shares of the company’s stock after selling 35,361 shares during the period. Corteva accounts for approximately 4.8% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 6th biggest holding. Bristol Gate Capital Partners Inc.’s holdings in Corteva were worth $98,093,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Corteva in the 4th quarter worth approximately $251,892,000. Raymond James Financial Inc. bought a new position in Corteva in the 4th quarter worth about $161,052,000. Franklin Resources Inc. boosted its position in shares of Corteva by 9.2% during the fourth 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. B. Metzler seel. Sohn & Co. AG raised its stake in Corteva by 69.0% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company’s stock valued at $163,181,000 after acquiring an additional 1,172,110 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $55.66 on Monday. The firm has a market cap of $38.02 billion, a price-to-earnings ratio of 43.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The company’s fifty day moving average is $62.36 and its 200-day moving average is $60.31. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

Corteva (NYSE:CTVA) last posted its 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%. Equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CTVA. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Monday, March 31st. Citigroup raised their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. Barclays raised their target price 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. Finally, Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the firm’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 completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

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.