First National Trust Co Sells 285 Shares of Corteva, Inc. (NYSE:CTVA)

First National Trust Co lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,212 shares of the company’s stock after selling 285 shares during the period. First National Trust Co’s holdings in Corteva were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AJOVista LLC purchased a new position in shares of Corteva in the 4th quarter worth approximately $158,000. Baxter Bros Inc. boosted its holdings in Corteva by 1.2% during the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after acquiring an additional 215 shares during the period. Axxcess Wealth Management LLC increased its stake in Corteva by 48.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 44,275 shares of the company’s stock worth $2,122,000 after purchasing an additional 14,445 shares during the period. Fisher Asset Management LLC lifted its position in shares of Corteva by 46.1% during the fourth quarter. Fisher Asset Management LLC now owns 9,856 shares of the company’s stock worth $472,000 after purchasing an additional 3,111 shares during the last quarter. Finally, FFT Wealth Management LLC boosted its stake in shares of Corteva by 7.7% during the fourth quarter. FFT Wealth Management LLC now owns 6,247 shares of the company’s stock valued at $299,000 after purchasing an additional 445 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Shares of NYSE CTVA traded down $0.08 during midday trading on Monday, hitting $57.08. The stock had a trading volume of 164,265 shares, compared to its average volume of 3,508,494. The company has a market capitalization of $39.78 billion, a PE ratio of 72.35, a P/E/G ratio of 1.50 and a beta of 0.78. The stock has a 50 day simple moving average of $55.37 and a 200-day simple moving average of $50.65. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $59.04. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. Corteva’s dividend payout ratio is presently 81.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTVA. BMO Capital Markets raised their target price on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. UBS Group dropped their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Mizuho boosted their price target on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their price target on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.38.

About Corteva

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.