Sentry Investment Management LLC Reduces Position in Corteva, Inc. (NYSE:CTVA)

Sentry Investment Management LLC lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,720 shares of the company’s stock after selling 400 shares during the period. Sentry Investment Management LLC’s holdings in Corteva were worth $178,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Keene & Associates Inc. increased its position in shares of Corteva by 20.6% in the 4th quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock worth $662,000 after purchasing an additional 2,358 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Corteva by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after buying an additional 31,171 shares in the last quarter. Romano Brothers AND Company lifted its holdings in Corteva by 12.2% during the 4th quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock worth $229,000 after buying an additional 518 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Corteva in the 4th quarter worth approximately $2,041,000. Finally, WCM Investment Management LLC increased its holdings in shares of Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.7 %

Shares of CTVA stock opened at $53.32 on Wednesday. The firm has a fifty day moving average of $55.20 and a 200-day moving average of $50.22. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of 52.28, a P/E/G ratio of 1.40 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $63.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the prior year, the company posted $0.16 earnings per share. On average, equities research analysts forecast that Corteva, Inc. will post 2.86 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s payout ratio is 62.75%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTVA. Barclays increased their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Royal Bank of Canada increased their target price on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Oppenheimer boosted their price target on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Finally, Mizuho decreased their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

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.