Oppenheimer & Co. Inc. Lowers Stake in Corteva, Inc. (NYSE:CTVA)

Oppenheimer & Co. Inc. lessened its holdings in Corteva, Inc. (NYSE:CTVAFree Report) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,203 shares of the company’s stock after selling 1,531 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Corteva were worth $727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTVA. Fairfield Bush & CO. acquired a new position in Corteva in the 1st quarter worth approximately $45,000. Cibc World Market Inc. boosted its position in Corteva by 420.1% in the 1st quarter. Cibc World Market Inc. now owns 37,890 shares of the company’s stock worth $2,178,000 after purchasing an additional 30,605 shares in the last quarter. Blair William & Co. IL boosted its position in Corteva by 2.9% in the 1st quarter. Blair William & Co. IL now owns 94,498 shares of the company’s stock worth $5,432,000 after purchasing an additional 2,662 shares in the last quarter. Aviva PLC boosted its position in Corteva by 38.1% in the 1st quarter. Aviva PLC now owns 146,289 shares of the company’s stock worth $8,409,000 after purchasing an additional 40,391 shares in the last quarter. Finally, Prudential PLC purchased a new stake in Corteva in the 1st quarter worth approximately $799,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Corteva Stock Down 1.5 %

NYSE CTVA opened at $53.25 on Friday. The business has a fifty day moving average price of $47.08 and a 200 day moving average price of $49.21. Corteva, Inc. has a one year low of $43.22 and a one year high of $64.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. The company has a market cap of $37.53 billion, a P/E ratio of 52.21, a P/E/G ratio of 1.34 and a beta of 0.73.

Corteva (NYSE:CTVAGet Free Report) last posted 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. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the company earned $0.16 EPS. Research analysts anticipate that Corteva, Inc. will post 2.87 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada upped their price objective on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Barclays upped their price objective on Corteva from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Berenberg Bank lowered Corteva from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $63.00 to $52.00 in a research report on Monday, November 27th. Mizuho lowered their price objective on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Finally, TheStreet lowered Corteva from a “b-” rating to a “c” rating in a research report on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $62.84.

Get Our Latest Stock Analysis on Corteva

Insiders Place Their Bets

In related news, EVP Robert D. King bought 640 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average cost of $46.77 per share, with a total value of $29,932.80. Following the purchase, the executive vice president now directly owns 59,701 shares of the company’s stock, valued at $2,792,215.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Robert D. King bought 640 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average cost of $46.77 per share, with a total value of $29,932.80. Following the purchase, the executive vice president now directly owns 59,701 shares of the company’s stock, valued at $2,792,215.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Samuel R. Eathington acquired 1,094 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were acquired at an average cost of $46.07 per share, with a total value of $50,400.58. Following the completion of the transaction, the insider now directly owns 41,066 shares in the company, valued at approximately $1,891,910.62. The disclosure for this purchase can be found here. Insiders purchased 2,084 shares of company stock valued at $95,527 in the last three months. 0.14% of the stock is currently owned by insiders.

Corteva Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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