Fiduciary Group LLC Cuts Position in Corteva, Inc. (NYSE:CTVA)

Fiduciary Group LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,369 shares of the company’s stock after selling 690 shares during the quarter. Fiduciary Group LLC’s holdings in Corteva were worth $209,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after buying an additional 1,941,323 shares in the last quarter. Northern Trust Corp grew its stake in Corteva by 2.7% during the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock valued at $639,796,000 after purchasing an additional 327,321 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Corteva by 29.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after purchasing an additional 2,545,570 shares in the last quarter. Van ECK Associates Corp grew its stake in Corteva by 78.7% during the 3rd quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after purchasing an additional 3,366,106 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after purchasing an additional 213,949 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Up 1.1 %

Shares of CTVA stock opened at $55.50 on Tuesday. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $61.87. The stock has a market cap of $38.79 billion, a PE ratio of 54.41, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The business’s fifty day moving average is $55.29 and its 200-day moving average is $50.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

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

Corteva Announces Dividend

The company also recently declared 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. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CTVA shares. KeyCorp increased their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Oppenheimer raised their price target on Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Mizuho cut their price target on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. UBS Group cut their price target on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Finally, TheStreet raised Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

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.