Dearborn Partners LLC Sells 86,961 Shares of Corteva, Inc. (NYSE:CTVA)

Dearborn Partners LLC reduced its position in Corteva, Inc. (NYSE:CTVA) by 15.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 460,269 shares of the company’s stock after selling 86,961 shares during the quarter. Corteva comprises about 1.4% of Dearborn Partners LLC’s portfolio, making the stock its 29th largest position. Dearborn Partners LLC owned about 0.07% of Corteva worth $28,965,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Sepio Capital LP increased its holdings in Corteva by 3.2% in the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock valued at $305,000 after buying an additional 166 shares during the period. Allred Capital Management LLC boosted its stake in shares of Corteva by 3.2% in the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after purchasing an additional 171 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Corteva by 1.9% in the 1st quarter. Signaturefd LLC now owns 9,353 shares of the company’s stock valued at $589,000 after purchasing an additional 172 shares in the last quarter. NTV Asset Management LLC boosted its stake in shares of Corteva by 3.3% in the 1st quarter. NTV Asset Management LLC now owns 5,457 shares of the company’s stock valued at $343,000 after purchasing an additional 173 shares in the last quarter. Finally, Avantax Planning Partners Inc. boosted its stake 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 purchasing an additional 178 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Up 0.7%

Corteva stock opened at $72.90 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. Corteva, Inc. has a 52-week low of $50.30 and a 52-week high of $77.41. The firm has a 50 day moving average price of $72.98 and a two-hundred day moving average price of $65.99. The firm has a market cap of $49.73 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.75 and a beta of 0.76.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the business earned $0.89 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. Equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 0.99%. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

Analysts Set New Price Targets

CTVA has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on shares of Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Citigroup raised their price target on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Wells Fargo & Company raised their price target on shares of Corteva from $79.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, June 23rd. Oppenheimer set a $87.00 target price on shares of Corteva and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, KeyCorp lifted their target price on shares of Corteva from $72.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.38.

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.