First Foundation Advisors Decreases Stock Position in Corteva, Inc. (NYSE:CTVA)

First Foundation Advisors lessened its stake in Corteva, Inc. (NYSE:CTVA) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,497 shares of the company’s stock after selling 199 shares during the quarter. First Foundation Advisors’ holdings in Corteva were worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTVA. Apollon Wealth Management LLC boosted its holdings in Corteva by 7.7% in the 4th quarter. Apollon Wealth Management LLC now owns 5,668 shares of the company’s stock worth $272,000 after acquiring an additional 403 shares during the period. BNP Paribas Financial Markets raised its position in shares of Corteva by 9.3% in the 4th quarter. BNP Paribas Financial Markets now owns 360,639 shares of the company’s stock valued at $17,282,000 after purchasing an additional 30,683 shares in the last quarter. AGF Management Ltd. raised its position in shares of Corteva by 8.5% in the 4th quarter. AGF Management Ltd. now owns 64,956 shares of the company’s stock valued at $3,113,000 after purchasing an additional 5,065 shares in the last quarter. Jump Financial LLC raised its position in shares of Corteva by 6.5% in the 4th quarter. Jump Financial LLC now owns 30,400 shares of the company’s stock valued at $1,457,000 after purchasing an additional 1,861 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Corteva by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,348,051 shares of the company’s stock valued at $208,364,000 after purchasing an additional 179,650 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CTVA shares. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research report on Friday, June 7th. KeyCorp dropped their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. Mizuho dropped their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Finally, Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Stock Down 0.8 %

Shares of Corteva stock opened at $55.38 on Wednesday. The stock has a 50-day moving average price of $53.92 and a 200 day moving average price of $54.62. The company has a market cap of $38.34 billion, a P/E ratio of 70.10, a P/E/G ratio of 1.59 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. As a group, analysts expect that Corteva, Inc. will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s payout ratio is currently 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.