Cambiar Investors LLC Sells 604,566 Shares of Corteva, Inc. $CTVA

Cambiar Investors LLC lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 98.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,769 shares of the company’s stock after selling 604,566 shares during the quarter. Cambiar Investors LLC’s holdings in Corteva were worth $504,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CTVA. Peak Financial Advisors LLC bought a new position in shares of Corteva during the 2nd quarter valued at about $505,000. Cary Street Partners Financial LLC lifted its position in shares of Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after buying an additional 15,448 shares in the last quarter. PGGM Investments boosted its stake in Corteva by 68.5% during the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock valued at $91,183,000 after buying an additional 497,200 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Corteva by 28.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after buying an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC increased its stake in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after acquiring an additional 67,869 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

CTVA stock opened at $61.51 on Friday. The stock has a market cap of $41.77 billion, a PE ratio of 30.00, a P/E/G ratio of 1.40 and a beta of 0.76. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a 50-day moving average price of $67.53 and a 200 day moving average price of $69.33. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. Oppenheimer dropped their price objective on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a report on Thursday, October 2nd. Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $79.65.

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.