Mutual of America Capital Management LLC Sells 5,009 Shares of Corteva, Inc. (NYSE:CTVA)

Mutual of America Capital Management LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 5.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 94,323 shares of the company’s stock after selling 5,009 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Corteva were worth $4,520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC bought a new stake in shares of Corteva during the fourth quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter worth approximately $27,000. NewSquare Capital LLC increased its stake in Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its stake in Corteva by 234.3% in the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after purchasing an additional 389 shares in the last quarter. Finally, Cornerstone Planning Group LLC bought a new stake in Corteva in the second quarter valued at approximately $28,000. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

NYSE:CTVA opened at $53.67 on Tuesday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $63.06. The firm has a market cap of $37.51 billion, a price-to-earnings ratio of 52.62, a P/E/G ratio of 1.40 and a beta of 0.77. The firm’s 50-day simple moving average is $55.17 and its 200 day simple moving average is $50.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the firm earned $0.16 earnings per share. As a group, sell-side analysts predict that Corteva, Inc. will post 2.86 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio is currently 62.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CTVA shares. Mizuho lowered their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Oppenheimer increased their target price on shares of Corteva from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Wolfe Research began coverage on shares of Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and increased their price target for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Finally, Wells Fargo & Company increased their price target on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.05.

About Corteva

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.