Financial Counselors Inc. Sells 414 Shares of Corteva, Inc. (NYSE:CTVA)

Financial Counselors Inc. lessened its stake in Corteva, Inc. (NYSE:CTVA) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,022 shares of the company’s stock after selling 414 shares during the period. Financial Counselors Inc.’s holdings in Corteva were worth $1,774,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CTVA. Moneta Group Investment Advisors LLC grew its position in shares of Corteva by 110,628.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after acquiring an additional 7,897,795 shares during the period. Norges Bank bought a new position in Corteva in the 4th quarter worth $328,936,000. Harris Associates L P bought a new position in Corteva in the 3rd quarter worth $246,423,000. Van ECK Associates Corp boosted its holdings in Corteva by 78.7% in the 3rd quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after buying an additional 3,366,106 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Corteva by 283.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock worth $256,860,000 after buying an additional 3,313,768 shares during the period. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and upped their target price for the stock from $57.00 to $65.00 in a report on Monday, February 12th. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Barclays upped their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a report on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.05.

Corteva Stock Down 4.8 %

Shares of NYSE CTVA opened at $53.76 on Friday. The firm’s 50-day moving average price is $55.14 and its 200-day moving average price is $50.19. 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 has a market capitalization of $37.57 billion, a price-to-earnings ratio of 52.71, a P/E/G ratio of 1.47 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $63.37.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion for 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 period in the prior year, the company earned $0.16 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 2.86 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.19%. Corteva’s payout ratio is 62.75%.

Corteva Company 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.