Corteva, Inc. (NYSE:CTVA) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lowered its position in Corteva, Inc. (NYSE:CTVA) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,360 shares of the company’s stock after selling 489 shares during the quarter. Meyer Handelman Co.’s holdings in Corteva were worth $2,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Capital International Investors raised its position in Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares during the period. Norges Bank purchased a new stake in shares of Corteva during the fourth quarter worth about $265,298,000. Harris Associates L P purchased a new stake in shares of Corteva during the third quarter worth about $246,423,000. Glenview Capital Management LLC increased its position in shares of Corteva by 116.6% during the fourth quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after acquiring an additional 2,529,539 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after acquiring an additional 2,141,428 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CTVA shares. Canaccord Genuity Group lifted their target price on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. Oppenheimer lifted their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Wolfe Research started coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Transactions at Corteva

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the sale, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the sale, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,556 shares of company stock worth $4,795,016. Company insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of NYSE CTVA opened at $52.92 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $54.81 and a 200-day simple moving average of $52.48. The company has a market cap of $36.88 billion, a PE ratio of 66.99, a P/E/G ratio of 1.40 and a beta of 0.78. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, equities research analysts forecast that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. Corteva’s dividend payout ratio is presently 81.01%.

Corteva 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.