Auxier Asset Management Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Auxier Asset Management cut its position in Corteva, Inc. (NYSE:CTVA) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,048 shares of the company’s stock after selling 237 shares during the period. Auxier Asset Management’s holdings in Corteva were worth $3,077,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors lifted 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 purchasing an additional 678,722 shares during the last quarter. Northern Trust Corp raised its holdings in Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after purchasing an additional 310,012 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Corteva by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after buying an additional 617,030 shares during the last quarter. Harris Associates L P grew its position 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 valued at $431,841,000 after buying an additional 4,194,981 shares during the last quarter. Finally, Putnam Investments LLC raised its stake in 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 acquiring an additional 1,021,733 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CTVA. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. KeyCorp cut their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Mizuho decreased their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Stock Down 1.7 %

CTVA opened at $57.58 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market cap of $40.13 billion, a price-to-earnings ratio of 72.89, a PEG ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.92. The business’s fifty day moving average is $54.68 and its two-hundred day moving average is $54.76.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping 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 net margin of 5.31% and a return on equity of 7.30%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 EPS. Analysts anticipate that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s payout ratio is 86.08%.

About Corteva

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.