Capital Asset Advisory Services LLC Cuts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Capital Asset Advisory Services LLC reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 4.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,148 shares of the company’s stock after selling 719 shares during the period. Capital Asset Advisory Services LLC’s holdings in Corteva were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CTVA. Capital International Investors grew its stake in shares of Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after buying an additional 8,260,808 shares in the last quarter. Norges Bank purchased a new position in shares of Corteva in the 4th quarter worth $265,298,000. Harris Associates L P purchased a new position in shares of Corteva in the 3rd quarter worth $246,423,000. Glenview Capital Management LLC grew its stake in shares of Corteva by 116.6% in the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after buying an additional 2,529,539 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after buying an additional 2,141,428 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CTVA shares. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Oppenheimer raised their target price on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. BMO Capital Markets raised their target price on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Barclays raised their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their target price on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Transactions at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock valued at $4,795,016 in the last 90 days. Insiders own 0.14% of the company’s stock.

Corteva Trading Up 0.5 %

NYSE CTVA opened at $53.94 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 68.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.78. The company’s 50-day simple moving average is $54.77 and its two-hundred day simple moving average is $52.73. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Equities analysts forecast that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

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.