Cwm LLC Cuts Position in Corteva, Inc. (NYSE:CTVA)

Cwm LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 14.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,154 shares of the company’s stock after selling 3,646 shares during the period. Cwm LLC’s holdings in Corteva were worth $1,062,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CTVA. WCM Investment Management LLC raised its stake in shares of Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after purchasing an additional 213,949 shares during the period. 17 Capital Partners LLC purchased a new stake in shares of Corteva during the fourth quarter valued at approximately $1,649,000. Factory Mutual Insurance Co. raised its stake in shares of Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after purchasing an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after purchasing an additional 68,593 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Corteva by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after purchasing an additional 31,171 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTVA shares. Barclays raised their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Wolfe Research began coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. KeyCorp lifted 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. Finally, TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Price Performance

Shares of Corteva stock opened at $54.92 on Friday. 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 company’s 50-day moving average price is $55.28 and its two-hundred day moving average price is $50.46. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $61.87. The stock has a market cap of $38.38 billion, a PE ratio of 53.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued 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. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business earned $0.16 earnings per share. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. Corteva’s dividend payout ratio is currently 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.