Smith Moore & CO. Has $507,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Smith Moore & CO. lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,903 shares of the company’s stock after selling 614 shares during the quarter. Smith Moore & CO.’s holdings in Corteva were worth $507,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its stake in Corteva by 64.9% during the third quarter. Benjamin Edwards Inc. now owns 8,528 shares of the company’s stock worth $502,000 after buying an additional 3,357 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in Corteva during the 3rd quarter worth about $201,000. Royal London Asset Management Ltd. raised its position in shares of Corteva by 2.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 291,763 shares of the company’s stock worth $17,153,000 after acquiring an additional 7,219 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Corteva by 323.2% in the 3rd quarter. Quantinno Capital Management LP now owns 82,998 shares of the company’s stock valued at $4,879,000 after purchasing an additional 63,388 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Corteva by 2.0% during the 3rd quarter. Stifel Financial Corp now owns 367,328 shares of the company’s stock valued at $21,595,000 after purchasing an additional 7,181 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on CTVA shares. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Citigroup boosted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. KeyCorp upped their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

Corteva Trading Down 9.2 %

Shares of CTVA stock opened at $55.66 on Friday. 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 $62.36 and a two-hundred day simple moving average of $60.29. 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 $38.02 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

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.