Sandy Spring Bank Has $1.07 Million Position in Corteva, Inc. (NYSE:CTVA)

Sandy Spring Bank lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,769 shares of the company’s stock after selling 666 shares during the period. Sandy Spring Bank’s holdings in Corteva were worth $1,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Chicago Partners Investment Group LLC boosted its stake in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC boosted its stake in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its stake in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Down 1.0 %

Shares of Corteva stock opened at $61.86 on Friday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The business has a 50-day moving average of $62.34 and a two-hundred day moving average of $59.81. The company has a market capitalization of $42.41 billion, a P/E ratio of 47.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. Corteva’s payout ratio is presently 52.71%.

Analyst Ratings Changes

CTVA has been the topic of several research reports. Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. KeyCorp upped their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Barclays upped their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.