Corteva, Inc. (NYSE:CTVA) Stake Trimmed by Procyon Advisors LLC

Procyon Advisors LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,040 shares of the company’s stock after selling 1,196 shares during the quarter. Procyon Advisors LLC’s holdings in Corteva were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Corteva in the 3rd quarter worth approximately $1,258,000. 17 Capital Partners LLC bought a new position in Corteva in the 4th quarter worth approximately $1,649,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Corteva by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock worth $39,794,000 after buying an additional 68,593 shares during the period. Richard Bernstein Advisors LLC bought a new position in Corteva in the 3rd quarter worth approximately $2,783,000. Finally, Quadrature Capital Ltd increased its position in Corteva by 2,362.5% in the 3rd quarter. Quadrature Capital Ltd now owns 184,320 shares of the company’s stock worth $9,430,000 after buying an additional 176,835 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 1.2 %

NYSE CTVA opened at $57.67 on Friday. The firm has a market cap of $40.30 billion, a P/E ratio of 56.54, a P/E/G ratio of 1.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The stock’s 50-day moving average is $52.69 and its 200-day moving average is $49.74. Corteva, Inc. has a one year low of $43.22 and a one year high of $63.37.

Corteva (NYSE:CTVAGet Free Report) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm earned $0.16 EPS. Sell-side analysts anticipate that Corteva, Inc. will post 2.87 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. Corteva’s dividend payout ratio is 62.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lowered their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Mizuho lowered their price objective on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Royal Bank of Canada boosted their price objective on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and boosted their price target for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Finally, Barclays boosted their price target on Corteva from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.14.

View Our Latest Stock Analysis on CTVA

About Corteva

(Free Report)

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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