Fifth Third Bancorp Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

Fifth Third Bancorp cut its stake in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 46.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,750 shares of the company’s stock after selling 172,816 shares during the period. Fifth Third Bancorp’s holdings in Corteva were worth $9,476,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new stake in Corteva during the 2nd quarter valued at $28,000. CVA Family Office LLC purchased a new stake in shares of Corteva in the 4th quarter worth $25,000. PCA Investment Advisory Services Inc. bought a new position in Corteva in the 2nd quarter worth $31,000. NewSquare Capital LLC raised its holdings in Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after purchasing an additional 226 shares during the period. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Corteva by 234.3% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after purchasing an additional 389 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTVA. Barclays raised their target price on Corteva from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Wells Fargo & Company raised their target price on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. UBS Group decreased their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Wolfe Research assumed coverage on Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.14.

View Our Latest Analysis on CTVA

Corteva Trading Up 1.2 %

Shares of CTVA stock opened at $57.67 on Monday. The stock has a market capitalization of $40.30 billion, a price-to-earnings ratio of 56.54, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $63.37. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $53.19 and its 200-day moving average price is $49.83.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter last year, the business posted $0.16 earnings per share. Equities research analysts predict that Corteva, Inc. will post 2.87 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.11%. Corteva’s dividend payout ratio is currently 62.75%.

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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