Corteva, Inc. (NYSE:CTVA) Holdings Cut by Courier Capital LLC

Courier Capital LLC decreased its stake in Corteva, Inc. (NYSE:CTVA) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,293 shares of the company’s stock after selling 248 shares during the quarter. Courier Capital LLC’s holdings in Corteva were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. AdvisorNet Financial Inc lifted its position in Corteva by 23.6% in the 1st quarter. AdvisorNet Financial Inc now owns 4,644 shares of the company’s stock worth $268,000 after buying an additional 887 shares in the last quarter. Brookstone Capital Management purchased a new stake in Corteva in the 1st quarter worth approximately $204,000. GoalVest Advisory LLC purchased a new stake in Corteva in the 1st quarter worth approximately $49,000. Wealthcare Advisory Partners LLC lifted its position in Corteva by 20.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,435 shares of the company’s stock worth $371,000 after buying an additional 1,074 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in shares of Corteva by 27.1% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,252 shares of the company’s stock valued at $130,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $60.79 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $42.37 billion, a price-to-earnings ratio of 76.95, a P/E/G ratio of 1.66 and a beta of 0.77. The company’s fifty day moving average is $56.84 and its two-hundred day moving average is $55.13. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $60.88.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period in the previous year, the business earned $1.60 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Equities research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is 86.08%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CTVA. JPMorgan Chase & Co. cut their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company cut their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and raised their price target for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Corteva 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.