Axxcess Wealth Management LLC Cuts Stake in Corteva, Inc. (NYSE:CTVA)

Axxcess Wealth Management LLC lessened its stake in Corteva, Inc. (NYSE:CTVA) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,276 shares of the company’s stock after selling 386 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Corteva were worth $1,838,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new stake in Corteva in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at about $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Oppenheimer increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Corteva Price Performance

CTVA opened at $62.50 on Thursday. The company’s 50 day simple moving average is $62.25 and its 200 day simple moving average is $59.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The stock has a market capitalization of $42.85 billion, a PE ratio of 48.45, a P/E/G ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

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.