Sandy Spring Bank Has $1.07 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Sandy Spring Bank cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,769 shares of the company’s stock after selling 666 shares during the quarter. Sandy Spring Bank’s holdings in Corteva were worth $1,069,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its holdings in shares of Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after buying an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after buying an additional 157 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after buying an additional 158 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after buying an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc lifted its holdings in shares of Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after buying an additional 166 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

CTVA opened at $61.86 on Friday. The stock has a market cap of $42.41 billion, a PE ratio of 47.95, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The stock’s 50 day simple moving average is $62.34 and its 200-day simple moving average is $59.81.

Corteva (NYSE:CTVA) last released 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%. Sell-side analysts forecast 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. Investors of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is 52.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTVA. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

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.