Financial Counselors Inc. Cuts Position in Corteva, Inc. (NYSE:CTVA)

Financial Counselors Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 35,588 shares of the company’s stock after selling 1,954 shares during the quarter. Financial Counselors Inc.’s holdings in Corteva were worth $2,027,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Great Valley Advisor Group Inc. purchased a new stake in Corteva during the third quarter worth approximately $203,000. Fisher Asset Management LLC lifted its holdings in shares of Corteva by 12.9% during the 3rd quarter. Fisher Asset Management LLC now owns 9,043 shares of the company’s stock valued at $532,000 after acquiring an additional 1,030 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Corteva by 7.7% during the 3rd quarter. Independent Advisor Alliance now owns 7,862 shares of the company’s stock valued at $462,000 after acquiring an additional 565 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Corteva by 10.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,279,230 shares of the company’s stock worth $75,205,000 after purchasing an additional 126,090 shares during the period. Finally, FMR LLC increased its holdings in Corteva by 1.9% in the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after purchasing an additional 203,126 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup lifted their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.00.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents 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 the SEC website. Company insiders own 0.14% of the company’s stock.

Corteva Trading Down 0.3 %

Shares of NYSE CTVA opened at $62.54 on Friday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a market cap of $42.88 billion, a price-to-earnings ratio of 48.48, a price-to-earnings-growth 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. The stock’s 50 day simple moving average is $62.56 and its 200 day simple moving average is $60.03.

Corteva (NYSE:CTVA) last posted its earnings results 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%. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

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

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.