Corteva, Inc. (NYSE:CTVA) Shares Sold by MCF Advisors LLC

MCF Advisors LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,632 shares of the company’s stock after selling 332 shares during the period. MCF Advisors LLC’s holdings in Corteva were worth $78,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Harris Associates L P bought a new position in shares of Corteva in the third quarter valued at $246,423,000. Van ECK Associates Corp increased its stake in shares of Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after acquiring an additional 3,366,106 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after purchasing an additional 1,941,323 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Corteva by 662.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,535,708 shares of the company’s stock worth $73,591,000 after purchasing an additional 1,334,415 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTVA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Royal Bank of Canada increased their price target on shares of Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. UBS Group reduced their price objective on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Finally, KeyCorp raised their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Stock Performance

NYSE CTVA opened at $55.20 on Tuesday. The company’s 50 day moving average is $55.23 and its 200-day moving average is $50.33. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $61.87. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The firm has a market cap of $38.58 billion, a P/E ratio of 54.12, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter in the previous year, the company earned $0.16 earnings per share. Sell-side analysts predict that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.16%. Corteva’s dividend payout ratio is currently 62.75%.

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.