Courier Capital LLC Decreases Position in Corteva, Inc. (NYSE:CTVA)

Courier Capital LLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,541 shares of the company’s stock after selling 705 shares during the period. Courier Capital LLC’s holdings in Corteva were worth $676,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CTVA. Redmont Wealth Advisors LLC acquired a new position in Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in shares of Corteva in the first quarter valued at approximately $25,000. Rise Advisors LLC increased its holdings in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Corteva during the fourth quarter worth approximately $28,000. Finally, Scarborough Advisors LLC acquired a new position in Corteva during the fourth quarter worth $29,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their price target on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. BMO Capital Markets increased their price target on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Oppenheimer lifted their price target on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lowered their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group upped their price target on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.67.

Corteva Stock Performance

NYSE CTVA traded up $0.02 during trading hours on Thursday, hitting $54.30. The company had a trading volume of 678,815 shares, compared to its average volume of 3,335,249. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.72. The company has a market cap of $37.85 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77. The business has a 50 day moving average of $53.02 and a 200-day moving average of $54.44.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. As a group, equities research analysts expect that Corteva, Inc. will post 2.73 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is currently 86.08%.

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.