Miracle Mile Advisors LLC Cuts Position in Corteva, Inc. (NYSE:CTVA)

Miracle Mile Advisors LLC trimmed its position in Corteva, Inc. (NYSE:CTVAFree Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,554 shares of the company’s stock after selling 753 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Corteva were worth $554,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTVA. Moneta Group Investment Advisors LLC raised its holdings in shares of Corteva by 110,628.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock worth $464,652,000 after purchasing an additional 7,897,795 shares during the period. Norges Bank purchased a new stake in shares of Corteva during the 4th quarter valued at about $328,936,000. Harris Associates L P purchased a new stake in shares of Corteva during the 3rd quarter valued at about $246,423,000. Van ECK Associates Corp raised its holdings in shares of Corteva by 78.7% during the 3rd quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after buying an additional 3,366,106 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Corteva by 283.5% during the 2nd quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock valued at $256,860,000 after buying an additional 3,313,768 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the topic of several analyst reports. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. UBS Group dropped their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Oppenheimer raised their target price on Corteva from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada raised their price objective on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Mizuho cut their target price on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $63.14.

View Our Latest Stock Report on CTVA

Corteva Price Performance

Shares of NYSE CTVA opened at $57.17 on Wednesday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $63.37. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 56.05, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77. The business has a 50 day simple moving average of $53.45 and a 200-day simple moving average of $49.86.

Corteva (NYSE:CTVAGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share 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 during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the business earned $0.16 EPS. As a group, equities research analysts expect that Corteva, Inc. will post 2.87 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. 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 1.12%. Corteva’s payout ratio is currently 62.75%.

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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