Corteva, Inc. (NYSE:CTVA) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 28.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 885,628 shares of the company’s stock after selling 356,029 shares during the period. Artemis Investment Management LLP owned about 0.13% of Corteva worth $52,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors boosted its stake in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after buying an additional 678,722 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after acquiring an additional 617,030 shares during the period. Harris Associates L P lifted its holdings in shares of Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after acquiring an additional 4,194,981 shares during the last quarter. Putnam Investments LLC boosted its position in shares of Corteva by 12.9% during the 4th quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock worth $428,902,000 after purchasing an additional 1,021,733 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after buying an additional 1,514,954 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CTVA shares. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. Wells Fargo & Company dropped their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.94.

Corteva Trading Down 1.0 %

NYSE CTVA opened at $56.88 on Wednesday. The company has a 50-day moving average of $55.43 and a 200-day moving average of $55.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08. The company has a market cap of $39.64 billion, a P/E ratio of 72.00, a P/E/G ratio of 1.68 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter last year, the firm posted $1.60 earnings per share. Corteva’s revenue was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.20%. 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.