Courier Capital LLC Decreases Position in Corteva, Inc. (NYSE:CTVA)

Courier Capital LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 2.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,246 shares of the company’s stock after selling 389 shares during the quarter. Courier Capital LLC’s holdings in Corteva were worth $764,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in Corteva during the fourth quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $27,000. Rise Advisors LLC lifted its stake in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $28,000. Finally, Scarborough Advisors LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 0.5 %

Corteva stock 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 firm 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. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The stock’s fifty day moving average is $54.77 and its two-hundred day moving average is $52.73.

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

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a $0.16 dividend. This represents a $0.64 annualized dividend 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%.

Insider Buying and Selling at Corteva

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CTVA shares. BMO Capital Markets boosted their price objective on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. KeyCorp boosted their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Wolfe Research started coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Finally, Oppenheimer boosted their target price on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Company 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.