Corteva, Inc. (NYSE:CTVA) Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,817 shares of the company’s stock after selling 576 shares during the quarter. Strategic Advisors LLC’s holdings in Corteva were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital International Investors boosted its holdings in Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares during the last quarter. Norges Bank acquired a new position in Corteva in the 4th quarter valued at about $265,298,000. Harris Associates L P boosted its holdings in Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares during the last quarter. Glenview Capital Management LLC boosted its holdings in Corteva by 116.6% in the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after purchasing an additional 2,529,539 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on CTVA shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Canaccord Genuity Group boosted their price target on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada boosted their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Barclays boosted their price target on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Corteva Stock Down 1.1 %

NYSE CTVA traded down $0.58 on Friday, hitting $51.90. 200,291 shares of the stock were exchanged, compared to its average volume of 3,526,367. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The company has a market cap of $36.17 billion, a PE ratio of 66.43, a PEG ratio of 1.40 and a beta of 0.77. The company has a 50-day moving average price of $54.59 and a 200-day moving average price of $52.92.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. Sell-side analysts anticipate that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Corteva news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the company’s 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 transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,556 shares of company stock worth $4,795,016. Corporate insiders own 0.20% of the company’s stock.

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.