Corteva, Inc. (NYSE:CTVA) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in Corteva, Inc. (NYSE:CTVAGet Rating) by 41.1% during the 2nd quarter, reports. The firm owned 1,275,742 shares of the company’s stock after selling 892,026 shares during the period. JPMorgan Chase & Co.’s holdings in Corteva were worth $69,071,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CTVA. Fieldpoint Private Securities LLC increased its stake in Corteva by 106.0% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,125 shares of the company’s stock worth $61,000 after buying an additional 579 shares during the period. Montag A & Associates Inc. lifted its stake in shares of Corteva by 51.9% in the 2nd quarter. Montag A & Associates Inc. now owns 752 shares of the company’s stock worth $41,000 after acquiring an additional 257 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Corteva by 3.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,899 shares of the company’s stock worth $590,000 after acquiring an additional 345 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in shares of Corteva in the 1st quarter valued at about $31,000. Finally, Shell Asset Management Co. increased its holdings in shares of Corteva by 21.6% in the 2nd quarter. Shell Asset Management Co. now owns 27,635 shares of the company’s stock valued at $1,496,000 after purchasing an additional 4,900 shares in the last quarter. 79.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corteva

In other Corteva news, insider Audrey Grimm sold 10,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $62.79, for a total transaction of $627,900.00. Following the completion of the sale, the insider now owns 7,511 shares in the company, valued at $471,615.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Corteva from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, November 17th. BMO Capital Markets raised their target price on shares of Corteva from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. KeyCorp lifted their price target on shares of Corteva from $64.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, September 14th. Mizuho lifted their price target on shares of Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, November 7th. Finally, UBS Group cut shares of Corteva from a “buy” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $73.00 in a research report on Tuesday, November 15th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.93.

Corteva Stock Down 0.4 %

Shares of NYSE:CTVA opened at $65.80 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.08 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $62.85 and a 200 day simple moving average of $59.57. The firm has a market cap of $47.01 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. Corteva, Inc. has a 12-month low of $43.74 and a 12-month high of $68.43.

Corteva (NYSE:CTVAGet Rating) last released its earnings results on Friday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.11. Corteva had a net margin of 7.95% and a return on equity of 7.31%. The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities research analysts anticipate that Corteva, Inc. will post 2.57 EPS for the current fiscal year.

Corteva declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, November 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.60 annualized dividend and a yield of 0.91%. Corteva’s payout ratio is 32.09%.

Corteva Profile

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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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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