Farther Finance Advisors LLC Sells 359 Shares of Corteva, Inc. (NYSE:CTVA)

Farther Finance Advisors LLC cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,851 shares of the company’s stock after selling 359 shares during the quarter. Farther Finance Advisors LLC’s holdings in Corteva were worth $219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Corteva in the fourth quarter valued at $161,052,000. Franklin Resources Inc. lifted its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares in the last quarter. State Street Corp lifted its stake in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after buying an additional 768,519 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after buying an additional 596,073 shares in the last quarter. Finally, Dearborn Partners LLC lifted its stake in shares of Corteva by 5,353.8% in the fourth quarter. Dearborn Partners LLC now owns 547,230 shares of the company’s stock valued at $31,170,000 after buying an additional 537,196 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

NYSE CTVA opened at $62.50 on Thursday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a 50-day simple moving average of $62.25 and a 200 day simple moving average of $59.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market capitalization of $42.85 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s payout ratio is 52.71%.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays increased their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada increased their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

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.