Corteva, Inc. (NYSE:CTVA) Shares Sold by Blair William & Co. IL

Blair William & Co. IL cut its stake in Corteva, Inc. (NYSE:CTVA) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,707 shares of the company’s stock after selling 2,320 shares during the period. Blair William & Co. IL’s holdings in Corteva were worth $4,407,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors increased its holdings in shares of Corteva by 2.6% in the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after acquiring an additional 678,722 shares during the period. Northern Trust Corp grew its position in Corteva by 2.5% in the 4th 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 during the last quarter. Van ECK Associates Corp increased its stake in shares of Corteva by 7.2% in the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after purchasing an additional 617,030 shares during the period. Harris Associates L P raised its holdings in shares of Corteva by 87.1% during the fourth 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 boosted its position in shares of Corteva by 12.9% during the fourth quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock worth $428,902,000 after buying an additional 1,021,733 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp cut their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. OTR Global reiterated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Wells Fargo & Company lowered their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Mizuho reduced 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Corteva Price Performance

NYSE CTVA opened at $57.58 on Friday. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.92. The stock’s 50-day moving average price is $54.68 and its two-hundred day moving average price is $54.77. The company has a market cap of $40.13 billion, a PE ratio of 72.89, 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.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.18%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is presently 86.08%.

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.