US Bancorp DE Decreases Position in Corteva, Inc. (NYSE:CTVA)

US Bancorp DE decreased its stake in Corteva, Inc. (NYSE:CTVAFree Report) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,153 shares of the company’s stock after selling 11,258 shares during the period. US Bancorp DE’s holdings in Corteva were worth $13,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CTVA. Essex Financial Services Inc. lifted its stake in shares of Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after acquiring an additional 215 shares in the last quarter. Baxter Bros Inc. lifted its stake in shares of Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after acquiring an additional 215 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Corteva by 4.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,361 shares of the company’s stock worth $257,000 after acquiring an additional 242 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of Corteva by 4.1% in the fourth quarter. Westpac Banking Corp now owns 6,290 shares of the company’s stock worth $301,000 after acquiring an additional 249 shares in the last quarter. Finally, Portside Wealth Group LLC lifted its stake 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 worth $215,000 after acquiring an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTVA. Oppenheimer boosted their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Barclays upped their price objective on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $63.05.

Check Out Our Latest Report on Corteva

Corteva Stock Performance

Shares of CTVA stock opened at $55.51 on Monday. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.81. The firm has a market capitalization of $38.69 billion, a price-to-earnings ratio of 70.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.78. The business has a 50 day simple moving average of $56.05 and a 200 day simple moving average of $51.47. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVAGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Corteva, Inc. will post 2.82 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

Corteva Profile

(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.

Further Reading

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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