Zurcher Kantonalbank Zurich Cantonalbank Sells 733 Shares of Corteva, Inc. (NYSE:CTVA)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 365,351 shares of the company’s stock after selling 733 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Corteva were worth $19,707,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Hosking Partners LLP lifted its holdings in Corteva by 48.1% during the 2nd quarter. Hosking Partners LLP now owns 165,063 shares of the company’s stock worth $8,903,000 after buying an additional 53,605 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Corteva by 36.4% during the 2nd quarter. HB Wealth Management LLC now owns 8,375 shares of the company’s stock worth $452,000 after buying an additional 2,237 shares in the last quarter. Conning Inc. lifted its holdings in Corteva by 12.7% during the 2nd quarter. Conning Inc. now owns 4,402 shares of the company’s stock worth $237,000 after buying an additional 495 shares in the last quarter. Eagle Bay Advisors LLC lifted its holdings in Corteva by 670.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 3,296 shares of the company’s stock worth $178,000 after buying an additional 2,868 shares in the last quarter. Finally, Dearborn Partners LLC lifted its holdings in Corteva by 8.8% during the 2nd quarter. Dearborn Partners LLC now owns 6,787 shares of the company’s stock worth $366,000 after buying an additional 547 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Down 0.3 %

Shares of CTVA traded down $0.16 during midday trading on Friday, hitting $56.84. The stock had a trading volume of 1,016,931 shares, compared to its average volume of 3,324,842. The company has a 50 day simple moving average of $53.40 and a two-hundred day simple moving average of $54.53. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The firm has a market cap of $39.62 billion, a price-to-earnings ratio of 72.15, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter last year, the business posted $1.60 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that Corteva, Inc. will post 2.73 EPS for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is currently 86.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CTVA shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. BMO Capital Markets raised their price target on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Oppenheimer raised their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Canaccord Genuity Group raised their price target on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company reduced their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.67.

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.