Federated Hermes Inc. Sells 386 Shares of Corteva, Inc. (NYSE:CTVA)

Federated Hermes Inc. trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 21.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,395 shares of the company’s stock after selling 386 shares during the quarter. Federated Hermes Inc.’s holdings in Corteva were worth $67,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Essex Financial Services Inc. raised its holdings in Corteva by 3.2% during the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock valued at $352,000 after buying an additional 215 shares in the last quarter. NewSquare Capital LLC boosted its position in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after purchasing an additional 226 shares during the period. Tradewinds LLC. grew its holdings in Corteva by 5.1% during the third quarter. Tradewinds LLC. now owns 4,788 shares of the company’s stock valued at $245,000 after purchasing an additional 231 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of Corteva by 6.3% in the fourth quarter. Portside Wealth Group LLC now owns 4,495 shares of the company’s stock valued at $215,000 after purchasing an additional 266 shares during the period. Finally, Summit Financial LLC lifted its stake in shares of Corteva by 6.7% in the third quarter. Summit Financial LLC now owns 4,266 shares of the company’s stock worth $218,000 after buying an additional 267 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday. Wolfe Research initiated coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer upped their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Canaccord Genuity Group raised their price objective on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $63.24.

Corteva Price Performance

Corteva stock opened at $56.36 on Tuesday. The business has a 50 day simple moving average of $55.40 and a 200 day simple moving average of $50.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The company has a market capitalization of $39.28 billion, a PE ratio of 71.34, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a one year low of $43.22 and a one year high of $59.04.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the business earned $1.16 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Corteva 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.