Corteva, Inc. (NYSE:CTVA) Stock Holdings Cut by US Bancorp DE

US Bancorp DE lessened its position in Corteva, Inc. (NYSE:CTVA) by 3.2% during the first quarter, Holdings Channel reports. The institutional investor owned 279,799 shares of the company’s stock after selling 9,354 shares during the quarter. US Bancorp DE’s holdings in Corteva were worth $16,136,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. American Century Companies Inc. lifted its stake in Corteva by 12.5% during the third quarter. American Century Companies Inc. now owns 96,151 shares of the company’s stock valued at $4,919,000 after purchasing an additional 10,711 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Corteva by 9.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 15,125 shares of the company’s stock valued at $774,000 after purchasing an additional 1,271 shares during the last quarter. Capital Investment Advisors LLC increased its stake in Corteva by 5.3% in the 4th quarter. Capital Investment Advisors LLC now owns 6,232 shares of the company’s stock worth $299,000 after purchasing an additional 315 shares in the last quarter. Diversified Trust Co raised its holdings in Corteva by 3.6% during the 4th quarter. Diversified Trust Co now owns 20,848 shares of the company’s stock worth $999,000 after buying an additional 729 shares during the period. Finally, Central Bank & Trust Co. lifted its stake in Corteva by 24.3% during the fourth quarter. Central Bank & Trust Co. now owns 20,467 shares of the company’s stock valued at $981,000 after buying an additional 4,001 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corteva news, insider Brian Titus sold 12,134 shares of the company’s 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 in the company, valued at approximately $764,491.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

CTVA traded up $1.26 during midday trading on Wednesday, reaching $55.46. 986,089 shares of the company’s stock were exchanged, compared to its average volume of 3,476,972. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76. The firm has a market capitalization of $38.65 billion, a price-to-earnings ratio of 68.62, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77. The business has a 50-day simple moving average of $54.03 and a two-hundred day simple moving average of $53.26. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts predict that Corteva, Inc. will post 2.79 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Canaccord Genuity Group increased their price objective on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. BMO Capital Markets boosted their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. KeyCorp raised their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada increased their price objective on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.