Kestra Advisory Services LLC Cuts Stock Position in Corteva, Inc. (NYSE:CTVA)

Kestra Advisory Services LLC cut its stake in Corteva, Inc. (NYSE:CTVAGet Rating) by 22.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,252 shares of the company’s stock after selling 11,881 shares during the quarter. Kestra Advisory Services LLC’s holdings in Corteva were worth $2,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in Corteva in the 1st quarter valued at about $45,000. Cibc World Market Inc. lifted its holdings in shares of Corteva by 420.1% in the 1st quarter. Cibc World Market Inc. now owns 37,890 shares of the company’s stock worth $2,178,000 after buying an additional 30,605 shares during the period. Blair William & Co. IL increased its stake in shares of Corteva by 2.9% during the first quarter. Blair William & Co. IL now owns 94,498 shares of the company’s stock valued at $5,432,000 after buying an additional 2,662 shares during the period. Aviva PLC lifted its stake in Corteva by 38.1% in the first quarter. Aviva PLC now owns 146,289 shares of the company’s stock worth $8,409,000 after acquiring an additional 40,391 shares during the period. Finally, Prudential PLC purchased a new position in Corteva during the 1st quarter valued at about $799,000. 79.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CTVA shares. Morgan Stanley increased their target price on Corteva from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, January 11th. Wells Fargo & Company started coverage on shares of Corteva in a research note on Wednesday. They issued an “overweight” rating and a $78.00 target price for the company. Citigroup dropped their target price on Corteva from $75.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday. Barclays increased their price target on Corteva from $71.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, November 17th. Finally, Loop Capital lowered Corteva from a “buy” rating to a “hold” rating and boosted their price target for the stock from $70.00 to $71.00 in a research note on Tuesday, November 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $72.59.

Corteva Stock Performance

NYSE CTVA opened at $62.36 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.08 and a debt-to-equity ratio of 0.05. Corteva, Inc. has a twelve month low of $43.74 and a twelve month high of $68.43. The stock has a 50-day moving average of $62.49 and a 200 day moving average of $60.96. The stock has a market capitalization of $44.56 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.18 and a beta of 0.78.

Corteva (NYSE:CTVAGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. Corteva had a net margin of 7.95% and a return on equity of 7.31%. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Sell-side analysts anticipate that Corteva, Inc. will post 2.57 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Monday, November 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, November 10th. Corteva’s payout ratio is 32.09%.

Corteva Profile

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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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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