Corteva, Inc. (NYSE:CTVA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 883,368 shares of the company’s stock after selling 7,084 shares during the period. Thrivent Financial for Lutherans owned about 0.13% of Corteva worth $47,648,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CTVA. Capital International Investors grew its stake in shares of Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after purchasing an additional 8,260,808 shares during the last quarter. Harris Associates L P grew its stake 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 purchasing an additional 4,194,981 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares during the last quarter. Glenview Capital Management LLC increased its position in shares of Corteva by 116.6% in the fourth quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after acquiring an additional 2,529,539 shares in the last quarter. Finally, Eminence Capital LP increased its position in shares of Corteva by 73.1% in the fourth quarter. Eminence Capital LP now owns 3,796,403 shares of the company’s stock worth $181,924,000 after acquiring an additional 1,603,058 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $57.58 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $40.13 billion, a PE ratio of 72.89, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The company has a 50 day moving average price of $54.68 and a two-hundred day moving average price of $54.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.92.

Corteva (NYSE:CTVA) last posted 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. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. As a group, equities analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Tuesday, September 3rd. Corteva’s dividend payout ratio is currently 86.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CTVA shares. Mizuho dropped their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. KeyCorp dropped their target price on shares of 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 dropped their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

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.