Corteva, Inc. $CTVA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,081,462 shares of the company’s stock after selling 175,383 shares during the quarter. Bank of New York Mellon Corp owned 0.75% of Corteva worth $343,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after buying an additional 11,760 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after acquiring an additional 16,644 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Corteva by 3.0% in the 2nd quarter. HB Wealth Management LLC now owns 19,030 shares of the company’s stock worth $1,418,000 after acquiring an additional 550 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of Corteva by 33.6% during the second quarter. Capital Investment Advisors LLC now owns 8,090 shares of the company’s stock worth $603,000 after purchasing an additional 2,033 shares during the period. Finally, SOA Wealth Advisors LLC. lifted its holdings in shares of Corteva by 622.5% during the second quarter. SOA Wealth Advisors LLC. now owns 737 shares of the company’s stock valued at $55,000 after purchasing an additional 635 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 1.1%

CTVA stock opened at $73.89 on Friday. The company has a 50 day moving average of $67.96 and a two-hundred day moving average of $68.40. The company has a market cap of $49.93 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 1.86 and a beta of 0.74. Corteva, Inc. has a 12-month low of $53.40 and a 12-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.

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

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, March 2nd. Corteva’s payout ratio is currently 30.77%.

Analyst Ratings Changes

CTVA has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Corteva from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Wolfe Research boosted their price target on shares of Corteva from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. BNP Paribas Exane lifted their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. Finally, Wells Fargo & Company cut their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $79.58.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.