Corteva, Inc. (NYSE:CTVA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in Corteva, Inc. (NYSE:CTVA) by 21.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,395 shares of the company’s stock after selling 386 shares during the period. Federated Hermes Inc.’s holdings in Corteva were worth $67,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CTVA. Stratos Wealth Partners LTD. raised its position in shares of Corteva by 14.6% in the third quarter. Stratos Wealth Partners LTD. now owns 11,791 shares of the company’s stock valued at $603,000 after buying an additional 1,506 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Corteva by 9.3% in the third quarter. Lindbrook Capital LLC now owns 3,186 shares of the company’s stock valued at $163,000 after purchasing an additional 271 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Corteva by 1.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 233,555 shares of the company’s stock valued at $11,949,000 after purchasing an additional 2,386 shares during the last quarter. Brighton Jones LLC lifted its position in Corteva by 7.0% during the third quarter. Brighton Jones LLC now owns 5,212 shares of the company’s stock worth $267,000 after buying an additional 342 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in Corteva by 3.7% during the third quarter. IFM Investors Pty Ltd now owns 141,713 shares of the company’s stock worth $7,250,000 after buying an additional 5,035 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 1.4 %

Shares of Corteva stock opened at $56.36 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market capitalization of $39.28 billion, a P/E ratio of 71.34, a PEG ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $59.04. The company’s fifty day moving average is $55.40 and its two-hundred day moving average is $50.69.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the company posted $1.16 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. Analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $65.00 in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research note on Friday, February 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.24.

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.