Corteva, Inc. (NYSE:CTVA) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,714 shares of the company’s stock after selling 2,610 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Corteva were worth $5,016,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTVA. Pinney & Scofield Inc. acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $31,000. Valley National Advisers Inc. increased its holdings in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Corteva in the first quarter valued at approximately $37,000. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Corteva in the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTVA. Royal Bank Of Canada increased their price target on Corteva from $74.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. UBS Group increased their price target on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer set a $87.00 price target on Corteva and gave the company an “outperform” rating in a report on Tuesday, July 15th. Morgan Stanley increased their price objective on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $79.50.

Corteva Trading Down 0.3%

CTVA opened at $70.87 on Friday. Corteva, Inc. has a 52 week low of $50.78 and a 52 week high of $77.41. The business has a fifty day simple moving average of $73.29 and a 200-day simple moving average of $66.51. The firm has a market cap of $48.34 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.72 and a beta of 0.75. The company has a quick ratio of 1.00, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the business posted $1.83 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

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.