Courier Capital LLC Sells 389 Shares of Corteva, Inc. (NYSE:CTVA)

Courier Capital LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,246 shares of the company’s stock after selling 389 shares during the quarter. Courier Capital LLC’s holdings in Corteva were worth $764,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CTVA. LPL Financial LLC lifted its stake in Corteva by 1.0% in the third quarter. LPL Financial LLC now owns 460,287 shares of the company’s stock worth $23,548,000 after acquiring an additional 4,340 shares during the period. Treasurer of the State of North Carolina lifted its stake in Corteva by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 322,435 shares of the company’s stock worth $16,496,000 after acquiring an additional 1,200 shares during the period. Tower Research Capital LLC TRC lifted its stake in Corteva by 4.0% in the third quarter. Tower Research Capital LLC TRC now owns 43,707 shares of the company’s stock worth $2,236,000 after acquiring an additional 1,672 shares during the period. Bank of Nova Scotia lifted its stake in Corteva by 347.8% in the third quarter. Bank of Nova Scotia now owns 286,888 shares of the company’s stock worth $14,677,000 after acquiring an additional 222,817 shares during the period. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in Corteva in the third quarter worth about $251,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now directly owns 126,628 shares in the company, 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 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. BMO Capital Markets increased their price target on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Barclays increased their price target on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. One investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Corteva Price Performance

Shares of NYSE:CTVA opened at $53.94 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The company’s 50 day moving average is $54.77 and its 200 day moving average is $52.73. 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 company has a market cap of $37.60 billion, a PE ratio of 68.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.78.

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

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 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.