Level Four Advisory Services LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 12.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,407 shares of the company’s stock after selling 1,196 shares during the quarter. Level Four Advisory Services LLC’s holdings in Corteva were worth $242,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of CTVA. Independent Franchise Partners LLP lifted its stake in shares of Corteva by 13.7% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,348,467 shares of the company’s stock valued at $491,555,000 after purchasing an additional 2,204,033 shares during the period. Holocene Advisors LP lifted its position in Corteva by 66.5% during the second quarter. Holocene Advisors LP now owns 4,266,358 shares of the company’s stock worth $114,296,000 after acquiring an additional 1,704,350 shares during the last quarter. State Farm Mutual Automobile Insurance Co. lifted its position in Corteva by 23.0% during the second quarter. State Farm Mutual Automobile Insurance Co. now owns 6,321,693 shares of the company’s stock worth $169,358,000 after acquiring an additional 1,181,926 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Corteva by 120.1% during the second quarter. Jacobs Levy Equity Management Inc. now owns 1,636,347 shares of the company’s stock worth $43,838,000 after acquiring an additional 892,764 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Corteva by 21.6% in the second quarter. Principal Financial Group Inc. now owns 4,979,722 shares of the company’s stock valued at $133,407,000 after buying an additional 883,018 shares in the last quarter. 78.27% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on CTVA shares. Credit Suisse Group lifted their price target on shares of Corteva from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday. Exane BNP Paribas downgraded shares of Corteva from an “outperform” rating to an “underperform” rating in a research report on Monday, October 19th. BNP Paribas downgraded shares of Corteva from an “outperform” rating to an “underperform” rating in a research report on Monday, October 19th. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Monday, October 19th. Finally, BMO Capital Markets lifted their price objective on shares of Corteva from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.94.
Shares of Corteva stock opened at $33.70 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.92 and a debt-to-equity ratio of 0.04. Corteva, Inc. has a twelve month low of $20.38 and a twelve month high of $34.54. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 41.10, a P/E/G ratio of 2.14 and a beta of 0.70. The company’s fifty day moving average is $31.41 and its 200 day moving average is $28.25.
Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.03. Corteva had a net margin of 4.42% and a return on equity of 4.69%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the firm posted ($0.39) earnings per share. Corteva’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Corteva, Inc. will post 1.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 13th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.54%. Corteva’s dividend payout ratio is 36.36%.
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 weeds, as well as food and nutritional characteristics.
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