Corteva, Inc. (NYSE:CTVA) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 79.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 434,311 shares of the company’s stock after selling 1,654,863 shares during the quarter. Mackenzie Financial Corp owned approximately 0.06% of Corteva worth $20,812,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC bought a new stake in shares of Corteva in the 4th quarter worth about $25,000. BKM Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at about $27,000. NewSquare Capital LLC grew its position in shares of Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its stake in Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares during the period. Finally, Cornerstone Planning Group LLC acquired a new position in Corteva in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CTVA shares. Oppenheimer lifted their price objective on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. UBS Group reduced their price target on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Mizuho lowered their price target on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Finally, Wolfe Research started coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.29.

Corteva Price Performance

NYSE CTVA opened at $53.96 on Friday. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $62.97. The business’s fifty day moving average is $55.20 and its two-hundred day moving average is $50.26. The stock has a market capitalization of $37.71 billion, a P/E ratio of 52.90, a P/E/G ratio of 1.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. On average, research analysts forecast that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio is presently 62.75%.

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.