Corteva, Inc. (NYSE:CTVA) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,950 shares of the company’s stock after selling 1,613 shares during the period. Aviance Capital Partners LLC’s holdings in Corteva were worth $689,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. WoodTrust Financial Corp purchased a new stake in Corteva in the 1st quarter valued at approximately $210,000. Trust Co. of Virginia VA acquired a new stake in shares of Corteva during the first quarter valued at $201,000. S.E.E.D. Planning Group LLC raised its stake in Corteva by 14.6% in the 1st quarter. S.E.E.D. Planning Group LLC now owns 50,167 shares of the company’s stock valued at $2,893,000 after purchasing an additional 6,392 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of Corteva during the 1st quarter worth about $1,244,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Corteva during the first quarter worth about $106,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

CTVA stock opened at $53.06 on Tuesday. The stock’s 50 day moving average is $54.77 and its two-hundred day moving average is $52.83. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The company has a market capitalization of $36.98 billion, a PE ratio of 67.16, a P/E/G ratio of 1.44 and a beta of 0.77. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

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

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.21%. Corteva’s dividend payout ratio (DPR) is 81.01%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. 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 research report on Friday, May 3rd. Barclays upped their target price on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group lifted their price target on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Oppenheimer upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada raised their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock valued at $4,795,016 over the last three months. 0.20% of the stock is owned by insiders.

About Corteva

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.