CoreCap Advisors LLC Trims Position in Corteva, Inc. (NYSE:CTVA)

CoreCap Advisors LLC trimmed its holdings in Corteva, Inc. (NYSE:CTVA – Get Rating) by 25.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,800 shares of the company’s stock after selling 1,609 shares during the period. CoreCap Advisors LLC’s holdings in Corteva were worth $282,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in Corteva by 24.9% during the fourth quarter. UBS Group AG now owns 1,834,356 shares of the company’s stock worth $107,823,000 after purchasing an additional 365,211 shares in the last quarter. SVB Wealth LLC raised its holdings in Corteva by 17.1% during the third quarter. SVB Wealth LLC now owns 29,682 shares of the company’s stock worth $1,697,000 after purchasing an additional 4,339 shares in the last quarter. AlphaCrest Capital Management LLC raised its holdings in Corteva by 303.8% during the third quarter. AlphaCrest Capital Management LLC now owns 42,608 shares of the company’s stock worth $2,435,000 after purchasing an additional 32,055 shares in the last quarter. Rockland Trust Co. acquired a new position in Corteva during the fourth quarter worth about $204,000. Finally, ARGI Investment Services LLC grew its position in Corteva by 11.1% during the fourth quarter. ARGI Investment Services LLC now owns 7,044 shares of the company’s stock worth $414,000 after buying an additional 704 shares during the period. 79.45% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $54.85 on Friday. Corteva, Inc. has a 12 month low of $50.03 and a 12 month high of $68.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.39 and a quick ratio of 0.89. The firm has a market capitalization of $38.99 billion, a P/E ratio of 33.86, a P/E/G ratio of 1.23 and a beta of 0.78. The company’s fifty day moving average price is $59.09 and its two-hundred day moving average price is $61.27.

Corteva (NYSE:CTVA – Get Rating) last released its earnings results on Wednesday, May 3rd. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.23. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.74 billion. Corteva had a net margin of 6.64% and a return on equity of 8.03%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 EPS. On average, research analysts anticipate that Corteva, Inc. will post 2.99 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, May 31st. Corteva’s dividend payout ratio is presently 37.04%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTVA shares. Mizuho lowered their target price on shares of Corteva from $78.00 to $76.00 in a research report on Friday, May 5th. Vertical Research raised shares of Corteva from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Monday. OTR Global lowered shares of Corteva to a “positive” rating in a report on Wednesday, March 8th. Wells Fargo & Company decreased their price target on shares of Corteva from $78.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Finally, Citigroup lifted their price target on shares of Corteva from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.75.

Corteva Company Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.