Kornitzer Capital Management Inc. KS Sells 1,028 Shares of Corteva, Inc. (NYSE:CTVA)

Kornitzer Capital Management Inc. KS trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,725 shares of the company’s stock after selling 1,028 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Corteva were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTVA. Moneta Group Investment Advisors LLC boosted its position in shares of Corteva by 110,628.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after acquiring an additional 7,897,795 shares during the period. Norges Bank bought a new position in Corteva in the fourth quarter worth $328,936,000. Harris Associates L P bought a new position in Corteva in the third quarter worth $246,423,000. Van ECK Associates Corp lifted its position in Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after purchasing an additional 3,366,106 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Corteva by 283.5% in the second quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock worth $256,860,000 after purchasing an additional 3,313,768 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $54.80 on Monday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $62.10. The firm has a market cap of $38.30 billion, a PE ratio of 53.73, a price-to-earnings-growth ratio of 1.44 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. The business has a fifty day moving average of $55.23 and a 200-day moving average of $50.30.

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

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. Corteva’s payout ratio is 62.75%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTVA shares. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and raised their target price for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. KeyCorp raised their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research report on Friday, February 2nd. Finally, UBS Group dropped their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.29.

About Corteva

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.