Amundi Reduces Holdings in Corteva, Inc. $CTVA

Amundi lowered its position in Corteva, Inc. (NYSE:CTVA) by 13.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,516,306 shares of the company’s stock after selling 234,571 shares during the quarter. Amundi owned about 0.22% of Corteva worth $116,756,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gladwyn Financial Advisors Inc. purchased a new position in shares of Corteva in the second quarter worth about $25,000. Curat Global LLC boosted its holdings in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the period. Maryland Capital Advisors Inc. purchased a new position in Corteva in the 2nd quarter valued at approximately $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in Corteva during the 2nd quarter valued at $29,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTVA. Argus reduced their price target on Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft decreased their price target on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Tuesday, December 2nd. Mizuho decreased their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, Wolfe Research increased their target price on shares of Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average target price of $78.05.

Corteva Trading Down 0.4%

Shares of Corteva stock opened at $65.99 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm has a market cap of $44.59 billion, a PE ratio of 28.20, a PEG ratio of 1.50 and a beta of 0.74. The company has a 50 day simple moving average of $64.18 and a two-hundred day simple moving average of $69.59.

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

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Corteva’s payout ratio is presently 30.77%.

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.