Corteva, Inc. (NYSE:CTVA) Shares Sold by LRI Investments LLC

LRI Investments LLC lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 34.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,949 shares of the company’s stock after selling 3,080 shares during the quarter. LRI Investments LLC’s holdings in Corteva were worth $374,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sepio Capital LP boosted its stake in Corteva by 3.2% in the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock worth $305,000 after purchasing an additional 166 shares in the last quarter. Allred Capital Management LLC lifted its stake in shares of Corteva by 3.2% during the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock worth $310,000 after buying an additional 171 shares during the period. NTV Asset Management LLC grew its holdings in shares of Corteva by 3.3% during the first quarter. NTV Asset Management LLC now owns 5,457 shares of the company’s stock valued at $343,000 after buying an additional 173 shares during the last quarter. Avantax Planning Partners Inc. increased its position in shares of Corteva by 4.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company’s stock valued at $286,000 after acquiring an additional 178 shares during the period. Finally, PFG Investments LLC raised its stake in Corteva by 1.4% in the 1st quarter. PFG Investments LLC now owns 12,867 shares of the company’s stock worth $810,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 1.8%

Shares of NYSE:CTVA opened at $73.50 on Monday. The business’s 50 day moving average price is $71.45 and its 200-day moving average price is $64.70. Corteva, Inc. has a 1 year low of $50.30 and a 1 year high of $77.41. The firm has a market capitalization of $50.14 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.93%. Corteva’s dividend payout ratio (DPR) is currently 41.46%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTVA. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Monday, March 31st. KeyCorp upped their target price on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Morgan Stanley raised their price target on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. BMO Capital Markets upped their price objective on shares of Corteva from $74.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price objective on Corteva from $79.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, June 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $75.54.

Corteva Company 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.