Corteva (NYSE:CTVA) Position Cut by Calamos Advisors LLC

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Calamos Advisors LLC trimmed its holdings in Corteva (NYSE:CTVA) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,295 shares of the company’s stock after selling 2,909 shares during the quarter. Calamos Advisors LLC owned about 0.05% of Corteva worth $11,803,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CTVA. Vanguard Group Inc. bought a new position in Corteva in the 2nd quarter worth approximately $1,803,496,000. BlackRock Inc. bought a new position in Corteva during the 2nd quarter valued at $1,728,215,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Corteva during the 2nd quarter valued at $579,764,000. Nuveen Asset Management LLC bought a new position in Corteva during the 2nd quarter valued at $429,256,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Corteva during the 2nd quarter valued at $404,071,000. 74.91% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the company. UBS Group decreased their price target on Corteva from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Barclays set a $32.00 price target on Corteva and gave the company a “hold” rating in a research note on Friday, November 1st. Redburn Partners assumed coverage on Corteva in a research note on Tuesday, November 12th. They set a “buy” rating for the company. Vertical Research assumed coverage on Corteva in a research note on Thursday, December 19th. They set a “hold” rating and a $27.00 price target for the company. Finally, Zacks Investment Research lowered Corteva from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Corteva has an average rating of “Hold” and a consensus price target of $30.80.

CTVA opened at $28.68 on Thursday. The business has a fifty day simple moving average of $27.48 and a 200-day simple moving average of $27.83. Corteva has a fifty-two week low of $24.10 and a fifty-two week high of $32.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.07. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.97 billion. Corteva’s revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that Corteva will post 1.23 earnings per share for the current fiscal year.

In related news, EVP Timothy P. Glenn acquired 5,150 shares of Corteva stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $26.13 per share, with a total value of $134,569.50. Also, SVP Cornel B. Fuerer acquired 2,000 shares of Corteva stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $26.13 per share, with a total value of $52,260.00. Over the last three months, insiders have bought 15,975 shares of company stock valued at $414,277.

Corteva Company Profile

Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.

Further Reading: What is the Dividend Aristocrat Index?

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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