Corteva, Inc. (NYSE:CTVA) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 84.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,249 shares of the company’s stock after selling 150,120 shares during the quarter. Cullinan Associates Inc.’s holdings in Corteva were worth $1,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTVA. CVA Family Office LLC bought a new position in shares of Corteva in the 4th quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in Corteva during the fourth quarter worth about $27,000. Rise Advisors LLC lifted its holdings in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Corteva in the fourth quarter valued at approximately $28,000. Finally, Scarborough Advisors LLC bought a new position in shares of Corteva during the fourth quarter valued at approximately $29,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corteva

In related news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction 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 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 SEC, which is available through the SEC website. In related news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction on 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 of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction on 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 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. In the last quarter, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.20% of the stock is currently owned by company insiders.

Corteva Stock Down 0.6 %

CTVA stock opened at $52.77 on Wednesday. The company’s 50 day simple moving average is $54.73 and its 200-day simple moving average is $52.88. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a market capitalization of $36.78 billion, a P/E ratio of 66.80, a P/E/G ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 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 analysts’ expectations of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. Corteva’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed 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 yield of 1.21%. The ex-dividend date was Tuesday, June 4th. Corteva’s payout ratio is presently 81.01%.

Analysts Set New Price Targets

CTVA has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Mizuho cut their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. BMO Capital Markets upped their target price on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Oppenheimer lifted their price target on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a 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 given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

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.