Corteva, Inc. (NYSE:CTVA) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its stake in Corteva, Inc. (NYSE:CTVA) by 15.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,779 shares of the company’s stock after selling 853 shares during the quarter. Wedbush Securities Inc.’s holdings in Corteva were worth $258,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. &PARTNERS boosted its stake in shares of Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after buying an additional 200 shares during the period. Herr Investment Group LLC boosted its stake in shares of Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after buying an additional 200 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in shares of Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after buying an additional 203 shares during the period. Albion Financial Group UT boosted its stake in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Corteva by 1.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTVA. Mizuho decreased their target price on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Wells Fargo & Company decreased their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. Finally, OTR Global reaffirmed a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Trading Up 1.7 %

NYSE:CTVA opened at $56.63 on Friday. The firm has a market cap of $39.20 billion, a P/E ratio of 71.68, a PEG ratio of 1.60 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $54.12 and its 200-day simple moving average is $54.64. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is currently 86.08%.

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.