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

Xponance Inc. trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,647 shares of the company’s stock after selling 1,505 shares during the period. Xponance Inc.’s holdings in Corteva were worth $7,479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CTVA. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the first quarter valued at $25,000. Acadian Asset Management LLC bought a new stake in Corteva in the first quarter worth about $25,000. Rise Advisors LLC lifted its holdings in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the last quarter. Albion Financial Group UT boosted its position in shares of Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares in the last quarter. Finally, Ironwood Wealth Management Inc. increased its holdings in shares of Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $58.00 on Tuesday. The firm has a market cap of $40.42 billion, a price-to-earnings ratio of 73.42, 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 company has a 50 day moving average of $54.78 and a 200-day moving average of $54.80. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.92.

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

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s payout ratio is 86.08%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Mizuho reduced their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Wells Fargo & Company dropped their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

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.