Brighton Jones LLC Sells 871 Shares of Corteva, Inc. (NYSE:CTVA)

Brighton Jones LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,341 shares of the company’s stock after selling 871 shares during the period. Brighton Jones LLC’s holdings in Corteva were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CTVA. Vanguard Group Inc. increased its position in shares of Corteva by 2.4% during 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 during the period. Northern Trust Corp grew its holdings 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 during the last quarter. Van ECK Associates Corp grew its holdings in Corteva by 11.6% during the 4th quarter. Van ECK Associates Corp now owns 8,528,252 shares of the company’s stock valued at $408,674,000 after purchasing an additional 883,161 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings 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 during the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTVA has been the topic of several analyst reports. KeyCorp upped their price target on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Wells Fargo & Company upped their price target on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, Wolfe Research started coverage on shares of Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target for the company. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.38.

Corteva Stock Up 0.3 %

NYSE:CTVA opened at $57.17 on Friday. The firm has a market capitalization of $39.95 billion, a P/E ratio of 72.37, a PEG ratio of 1.41 and a beta of 0.78. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $60.57. The company’s fifty day moving average price is $55.33 and its 200-day moving average price is $50.61. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.63%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Dividend Announcement

The company 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 dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

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.