Corteva, Inc. (NYSE:CTVA) Shares Sold by Brighton Jones LLC

Brighton Jones LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,828 shares of the company’s stock after selling 495 shares during the period. Brighton Jones LLC’s holdings in Corteva were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CTVA. International Assets Investment Management LLC acquired a new position in shares of Corteva in the 3rd quarter valued at $8,239,000. Private Advisor Group LLC increased its position in shares of Corteva by 1.1% in the third quarter. Private Advisor Group LLC now owns 28,482 shares of the company’s stock worth $1,674,000 after acquiring an additional 313 shares in the last quarter. Westhampton Capital LLC raised its holdings in shares of Corteva by 2.5% during the third quarter. Westhampton Capital LLC now owns 8,641 shares of the company’s stock valued at $508,000 after acquiring an additional 213 shares during the period. Eastern Bank purchased a new stake in shares of Corteva in the 3rd quarter valued at approximately $332,000. Finally, Sequoia Financial Advisors LLC boosted its stake in Corteva by 31.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 22,682 shares of the company’s stock worth $1,333,000 after purchasing an additional 5,466 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.7 %

Corteva stock opened at $60.35 on Friday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $61.21. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market capitalization of $42.06 billion, a PE ratio of 76.39, a PEG ratio of 1.66 and a beta of 0.77. The business’s 50-day simple moving average is $57.13 and its 200-day simple moving average is $55.17.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. Corteva’s payout ratio is presently 86.08%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTVA shares. Citigroup initiated coverage on Corteva in a research report on Wednesday. They issued a “buy” rating and a $68.00 target price for the company. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and lifted their target price for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Finally, KeyCorp reduced their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.84.

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.