Corteva, Inc. (NYSE:CTVA) Stake Cut by Heritage Investors Management Corp

Heritage Investors Management Corp lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 79,255 shares of the company’s stock after selling 499 shares during the period. Heritage Investors Management Corp’s holdings in Corteva were worth $3,798,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Foresight Global Investors Inc. boosted its position in Corteva by 4.8% during the fourth quarter. Foresight Global Investors Inc. now owns 25,968 shares of the company’s stock valued at $1,244,000 after purchasing an additional 1,188 shares during the last quarter. National Pension Service grew its stake in shares of Corteva by 3.6% in the 4th quarter. National Pension Service now owns 1,848,642 shares of the company’s stock valued at $88,587,000 after buying an additional 65,085 shares in the last quarter. Everpar Advisors LLC acquired a new position in Corteva in the fourth quarter worth approximately $959,000. Charles Schwab Investment Management Inc. raised its position in Corteva by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,197,182 shares of the company’s stock valued at $201,129,000 after acquiring an additional 127,093 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Corteva by 7.7% in the fourth quarter. Apollon Wealth Management LLC now owns 5,668 shares of the company’s stock valued at $272,000 after acquiring an additional 403 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CTVA shares. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a report on Friday, February 2nd. Canaccord Genuity Group increased their price target on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Oppenheimer upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. UBS Group decreased their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Corteva from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.24.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by insiders.

Corteva Price Performance

NYSE CTVA traded up $1.01 during trading hours on Thursday, reaching $57.83. 4,006,327 shares of the company’s stock were exchanged, compared to its average volume of 3,579,707. The firm has a fifty day moving average of $55.50 and a 200-day moving average of $50.78. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.81. The stock has a market cap of $40.31 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.16 earnings per share. On average, equities research analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. Corteva’s payout ratio is 81.01%.

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.