Massmutual Trust Co. FSB ADV Has $101,000 Position in Corteva, Inc. (NYSE:CTVA)

Massmutual Trust Co. FSB ADV reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,759 shares of the company’s stock after selling 340 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Corteva were worth $101,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CTVA. Essex Financial Services Inc. boosted its holdings in Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after purchasing an additional 215 shares in the last quarter. Baxter Bros Inc. grew its position in shares of Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after purchasing an additional 215 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of Corteva by 1.2% in the first quarter. Moody National Bank Trust Division now owns 19,660 shares of the company’s stock valued at $1,134,000 after purchasing an additional 235 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in Corteva by 4.7% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,361 shares of the company’s stock worth $257,000 after buying an additional 242 shares in the last quarter. Finally, Westpac Banking Corp grew its position in Corteva by 4.1% during the fourth quarter. Westpac Banking Corp now owns 6,290 shares of the company’s stock worth $301,000 after buying an additional 249 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corteva

In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,556 shares of company stock worth $4,795,016. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Royal Bank of Canada lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Oppenheimer boosted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company boosted their price objective on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Corteva Stock Up 1.1 %

Shares of CTVA stock opened at $52.92 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The firm’s 50-day moving average is $54.81 and its 200-day moving average is $52.42. The stock has a market cap of $36.88 billion, a price-to-earnings ratio of 66.99, a PEG 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.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. Corteva’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. Sell-side analysts predict that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Dividend Announcement

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

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.