Team Hewins LLC Lowers Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Team Hewins LLC trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,281 shares of the company’s stock after selling 197 shares during the period. Team Hewins LLC’s holdings in Corteva were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CTVA. WCM Investment Management LLC raised 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 purchasing an additional 213,949 shares in the last quarter. Red Mountain Financial LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $862,000. Parsons Capital Management Inc. RI bought a new stake in shares of Corteva in the 1st quarter valued at about $230,000. California State Teachers Retirement System raised its stake in shares of Corteva by 15.1% during the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after acquiring an additional 181,883 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Corteva during the 1st quarter worth approximately $1,965,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the sale, the senior vice president now directly owns 126,628 shares in the company, valued at $7,269,713.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock worth $4,795,016 over the last three months. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Barclays boosted their price objective on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. BMO Capital Markets boosted their price objective on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Performance

NYSE CTVA traded up $1.25 during mid-day trading on Thursday, reaching $52.27. 955,672 shares of the stock were exchanged, compared to its average volume of 3,504,462. The business’s 50 day moving average is $54.34 and its 200-day moving average is $53.07. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The company has a market capitalization of $36.43 billion, a P/E ratio of 64.58, a P/E/G ratio of 1.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. On average, equities research analysts forecast that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

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.