Bank Julius Baer & Co. Ltd Zurich Has $16.77 Million Stake in Corteva, Inc. $CTVA

Bank Julius Baer & Co. Ltd Zurich reduced its stake in Corteva, Inc. (NYSE:CTVA) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,056 shares of the company’s stock after selling 37,910 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Corteva were worth $16,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Corteva by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after purchasing an additional 373,680 shares in the last quarter. Geode Capital Management LLC lifted its position in Corteva by 1.4% during the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after purchasing an additional 251,693 shares during the period. Independent Franchise Partners LLP grew its stake in Corteva by 1.8% during the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after buying an additional 288,792 shares in the last quarter. Northern Trust Corp increased its holdings in Corteva by 1.0% in the 1st quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after buying an additional 110,865 shares during the period. Finally, Nuveen LLC bought a new position in Corteva in the 1st quarter valued at about $640,333,000. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BMO Capital Markets set a $86.00 target price on Corteva in a report on Monday, September 15th. Mizuho lowered their price target on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Corteva Trading Down 0.5%

NYSE CTVA opened at $64.38 on Friday. The company has a market cap of $43.50 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.47 and a beta of 0.81. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $65.05 and its 200 day moving average is $69.61.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the company earned ($0.49) earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Corteva Company 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.