Brighton Jones LLC Trims Stock Position in Corteva, Inc. (NYSE:CTVA)

Brighton Jones LLC cut its stake in Corteva, Inc. (NYSE:CTVA) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,341 shares of the company’s stock after selling 871 shares during the period. Brighton Jones LLC’s holdings in Corteva were worth $208,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Corteva in the fourth quarter valued at $25,000. NewSquare Capital LLC raised its stake in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after acquiring an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its stake in Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after acquiring an additional 389 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Corteva in the 4th quarter valued at approximately $27,000. Finally, Naples Money Management LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 0.3 %

CTVA stock opened at $57.17 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a one year low of $43.22 and a one year high of $60.57. The stock has a market capitalization of $39.95 billion, a P/E ratio of 72.37, a PEG ratio of 1.41 and a beta of 0.78. The company has a 50 day moving average price of $55.33 and a two-hundred day moving average price of $50.61.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.63%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Corteva’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued 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 1.12%. Corteva’s dividend payout ratio is currently 81.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Canaccord Genuity Group boosted their target price on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday. 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. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $65.00 in a report on Monday, February 12th. Finally, Oppenheimer upped their price target on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.38.

About Corteva

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.