Cornerstone Advisors LLC Cuts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Cornerstone Advisors LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,100 shares of the company’s stock after selling 4,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in Corteva were worth $814,000 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 the stock. &PARTNERS grew its position in Corteva by 4.3% during the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock worth $278,000 after purchasing an additional 200 shares during the last quarter. Herr Investment Group LLC increased its position in Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after acquiring an additional 200 shares during the period. Azzad Asset Management Inc. ADV raised its stake in Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after acquiring an additional 203 shares during the last quarter. Albion Financial Group UT lifted its position in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after acquiring an additional 220 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Corteva by 1.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after purchasing an additional 227 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of NYSE CTVA opened at $57.04 on Wednesday. The company has a market capitalization of $39.76 billion, a price-to-earnings ratio of 72.20, a PEG ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The business has a 50-day moving average of $54.34 and a 200-day moving average of $54.69.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion during 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%. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 EPS. On average, equities analysts anticipate that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 of this dividend was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.19%. Corteva’s payout ratio is 86.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CTVA shares. JPMorgan Chase & Co. cut their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. Finally, Mizuho lowered their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. One equities 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.67.

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.