Corteva, Inc. (NYSE:CTVA) Holdings Cut by Snider Financial Group

by · The Cerbat Gem

Snider Financial Group trimmed its stake in Corteva, Inc. (NYSE:CTVA – Free Report) by 9.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,587 shares of the company’s stock after selling 1,655 shares during the quarter. Snider Financial Group’s holdings in Corteva were worth $1,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scissortail Wealth Management LLC increased its stake in shares of Corteva by 72,080.0% during the fourth quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company’s stock valued at $206,000 after acquiring an additional 3,604 shares during the period. Van ECK Associates Corp boosted its holdings in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after buying an additional 525,531 shares in the last quarter. JPMorgan Chase & Co. grew its position in Corteva by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company’s stock worth $270,764,000 after buying an additional 288,885 shares during the last quarter. Allworth Financial LP lifted its position in shares of Corteva by 17.3% during the 4th quarter. Allworth Financial LP now owns 13,699 shares of the company’s stock valued at $856,000 after acquiring an additional 2,023 shares during the last quarter. Finally, DnB Asset Management AS raised its position in shares of Corteva by 39.0% during the fourth quarter. DnB Asset Management AS now owns 232,902 shares of the company’s stock worth $13,266,000 after purchasing an additional 65,334 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 0.2%

Shares of CTVA stock opened at $71.25 on Friday. The company has a market capitalization of $48.61 billion, a P/E ratio of 55.23, a P/E/G ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $71.88. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $64.00 and a 200 day moving average price of $62.03.

Corteva (NYSE:CTVA – Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. Corteva’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

Analyst Upgrades and Downgrades

CTVA has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. Royal Bank of Canada raised their price objective on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp boosted their target price on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Barclays increased their price target on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Finally, Oppenheimer reissued an “outperform” rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

View Our Latest Stock Analysis on CTVA

Corteva Company Profile

(Free Report)

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.

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