Shelton Wealth Management LLC Sells 8,001 Shares of Corteva, Inc. $CTVA

Shelton Wealth Management LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 74.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,763 shares of the company’s stock after selling 8,001 shares during the quarter. Shelton Wealth Management LLC’s holdings in Corteva were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Drummond Knight Asset Management Pty Ltd acquired a new position in shares of Corteva during the fourth quarter valued at about $25,713,000. Avior Wealth Management LLC raised its holdings in shares of Corteva by 464.7% in the 4th quarter. Avior Wealth Management LLC now owns 32,901 shares of the company’s stock worth $2,205,000 after acquiring an additional 27,075 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Corteva in the 4th quarter worth about $23,679,000. Squarepoint Ops LLC lifted its position in Corteva by 423.6% in the 3rd quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company’s stock valued at $117,550,000 after acquiring an additional 1,406,199 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Corteva during the 4th quarter valued at about $2,350,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

CTVA stock traded up $0.46 during mid-day trading on Tuesday, hitting $86.85. The company had a trading volume of 475,161 shares, compared to its average volume of 4,018,400. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. The firm has a market cap of $58.09 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 2.62 and a beta of 0.56. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $87.69. The stock’s fifty day moving average price is $79.80 and its two-hundred day moving average price is $76.94.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.32. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. Corteva’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Corteva’s dividend payout ratio (DPR) is currently 42.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTVA. Berenberg Bank raised their target price on Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, March 26th. Wells Fargo & Company upped their price target on Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. BNP Paribas Exane increased their price target on Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. UBS Group dropped their price objective on Corteva from $90.00 to $86.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Finally, Weiss Ratings upgraded shares of Corteva from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.90.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.