Community Bank N.A. Sells 705 Shares of Corteva, Inc. (NYSE:CTVA)

Community Bank N.A. trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 57.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515 shares of the company’s stock after selling 705 shares during the period. Community Bank N.A.’s holdings in Corteva were worth $29,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CTVA. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC bought a new stake in shares of Corteva during the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new stake in shares of Corteva during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter worth approximately $34,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Shares of CTVA opened at $61.70 on Monday. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a fifty day simple moving average of $62.44 and a 200 day simple moving average of $59.90. The stock has a market capitalization of $42.30 billion, a price-to-earnings ratio of 47.83, a PEG ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTVA. KeyCorp boosted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Oppenheimer upped their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group lowered their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

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.