Aviance Capital Partners LLC Sells 1,613 Shares of Corteva, Inc. (NYSE:CTVA)

Aviance Capital Partners LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 11.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,950 shares of the company’s stock after selling 1,613 shares during the period. Aviance Capital Partners LLC’s holdings in Corteva were worth $689,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Teza Capital Management LLC lifted its holdings in shares of Corteva by 274.2% in the third quarter. Teza Capital Management LLC now owns 24,011 shares of the company’s stock worth $1,228,000 after buying an additional 17,595 shares in the last quarter. United Services Automobile Association grew its position in shares of Corteva by 36.7% during the third quarter. United Services Automobile Association now owns 22,213 shares of the company’s stock valued at $1,136,000 after purchasing an additional 5,965 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Corteva by 2,362.5% in the third quarter. Quadrature Capital Ltd now owns 184,320 shares of the company’s stock worth $9,430,000 after purchasing an additional 176,835 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Corteva by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 393,420 shares of the company’s stock worth $20,127,000 after buying an additional 6,189 shares in the last quarter. Finally, Wahed Invest LLC boosted its stake in Corteva by 6.5% during the third quarter. Wahed Invest LLC now owns 11,120 shares of the company’s stock valued at $569,000 after buying an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the business’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 completion of the sale, the senior vice president now directly 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 through this link. In other news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on 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 completion of the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTVA. Mizuho decreased their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Canaccord Genuity Group lifted their price objective on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Oppenheimer upped their target price on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Performance

CTVA stock opened at $53.06 on Tuesday. The firm has a 50-day simple moving average of $54.77 and a two-hundred day simple moving average of $52.83. 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, Inc. has a one year low of $43.22 and a one year high of $58.76. The firm has a market cap of $36.98 billion, a price-to-earnings ratio of 67.16, a PEG ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the firm earned $1.16 earnings per share. Corteva’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Dividend Announcement

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

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.