First Hawaiian Bank Has $517,000 Position in Corteva, Inc. (NYSE:CTVA)

First Hawaiian Bank cut its position in Corteva, Inc. (NYSE:CTVA) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,973 shares of the company’s stock after selling 2,233 shares during the quarter. First Hawaiian Bank’s holdings in Corteva were worth $517,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CTVA. WCM Investment Management LLC grew its holdings in Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares during the last quarter. Red Mountain Financial LLC acquired a new stake in Corteva in the fourth quarter valued at $862,000. California State Teachers Retirement System raised its position in Corteva by 15.1% during the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after purchasing an additional 181,883 shares during the last quarter. 17 Capital Partners LLC acquired a new position in Corteva during the 4th quarter worth about $1,649,000. Finally, Factory Mutual Insurance Co. grew its position in shares of Corteva by 10.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after buying an additional 51,500 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA opened at $52.92 on Friday. The firm has a market capitalization of $36.88 billion, a P/E ratio of 66.99, a P/E/G ratio of 1.38 and a beta of 0.78. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The stock has a 50 day moving average price of $54.81 and a two-hundred day moving average price of $52.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Corteva’s revenue was down 8.0% compared to the same quarter last year. Equities analysts forecast that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Tuesday, June 4th. Corteva’s payout ratio is currently 81.01%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Canaccord Genuity Group upped their target price on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Wolfe Research began coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, May 6th. OTR Global reiterated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Insider Activity at Corteva

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now owns 126,628 shares in the company, valued at approximately $7,269,713.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

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.