Park National Corp OH Lowers Stock Position in Corteva, Inc. (NYSE:CTVA)

Park National Corp OH cut its stake in Corteva, Inc. (NYSE:CTVA) by 17.0% during the third quarter, HoldingsChannel reports. The fund owned 6,208 shares of the company’s stock after selling 1,272 shares during the quarter. Park National Corp OH’s holdings in Corteva were worth $365,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTVA. Mediolanum International Funds Ltd purchased a new position in Corteva during the 1st quarter worth approximately $2,270,000. Red Mountain Financial LLC purchased a new position in shares of Corteva during the 4th quarter valued at approximately $862,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Corteva by 14.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock valued at $54,678,000 after acquiring an additional 121,817 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Corteva in the 1st quarter worth $1,965,000. Finally, Intech Investment Management LLC grew its position in shares of Corteva by 69.5% in the first quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after purchasing an additional 21,545 shares during the period. 81.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. KeyCorp dropped their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company dropped their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.94.

Corteva Trading Down 0.9 %

NYSE CTVA opened at $58.12 on Friday. The firm’s fifty day moving average price is $55.33 and its 200 day moving average price is $54.97. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market capitalization of $40.51 billion, a price-to-earnings ratio of 73.57, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, sell-side analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio is 86.08%.

Corteva 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 herbicides used to control weeds, as well as food and nutritional characteristics.