Bryn Mawr Capital Management LLC Has $1.88 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Bryn Mawr Capital Management LLC trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 34.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,166 shares of the company’s stock after selling 20,430 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Corteva were worth $1,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CTVA. AE Wealth Management LLC lifted its position in shares of Corteva by 12.1% in the third quarter. AE Wealth Management LLC now owns 23,481 shares of the company’s stock worth $1,201,000 after purchasing an additional 2,534 shares in the last quarter. DAVENPORT & Co LLC raised its position in Corteva by 3.9% during the third quarter. DAVENPORT & Co LLC now owns 23,894 shares of the company’s stock valued at $1,222,000 after acquiring an additional 892 shares in the last quarter. Avior Wealth Management LLC raised its position in Corteva by 286.7% during the third quarter. Avior Wealth Management LLC now owns 3,279 shares of the company’s stock valued at $168,000 after acquiring an additional 2,431 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Corteva by 37,003.4% during the third quarter. Exchange Traded Concepts LLC now owns 10,760 shares of the company’s stock valued at $550,000 after acquiring an additional 10,731 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in Corteva by 44.0% during the third quarter. Coronation Fund Managers Ltd. now owns 141,676 shares of the company’s stock valued at $7,248,000 after acquiring an additional 43,297 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer raised their price objective on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Friday, February 2nd. Wolfe Research started coverage on shares of Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target on the stock. UBS Group dropped their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Stock Performance

CTVA traded up $0.22 during trading on Friday, reaching $54.92. 2,350,150 shares of the company’s stock were exchanged, compared to its average volume of 3,520,670. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.87. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $55.28 and a 200 day moving average price of $50.46. The company has a market capitalization of $38.38 billion, a P/E ratio of 53.84, a PEG ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. As a group, analysts predict that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s payout ratio is presently 62.75%.

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.