Independent Advisor Alliance Sells 894 Shares of Corteva, Inc. (NYSE:CTVA)

Independent Advisor Alliance reduced its position in Corteva, Inc. (NYSE:CTVA) by 10.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,619 shares of the company’s stock after selling 894 shares during the period. Independent Advisor Alliance’s holdings in Corteva were worth $365,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in shares of Corteva during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC lifted its holdings 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 buying an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its position in shares of Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter valued at approximately $27,000. Finally, Naples Money Management LLC purchased a new stake in shares of Corteva in the fourth quarter valued at approximately $31,000. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CTVA. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a report on Friday, February 2nd. BMO Capital Markets upped their price objective on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Barclays boosted their price target on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Royal Bank of Canada boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Mizuho increased their target price on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.24.

Insider Activity at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,556 shares of company stock valued at $4,795,016. 0.20% of the stock is currently owned by insiders.

Corteva Price Performance

NYSE CTVA opened at $56.65 on Wednesday. The company has a market cap of $39.48 billion, a price-to-earnings ratio of 71.71, a PEG ratio of 1.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The stock’s fifty day moving average price is $56.00 and its 200 day moving average price is $51.33. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 earnings per share. As a group, equities research analysts forecast that Corteva, Inc. will post 2.82 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. Investors of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is presently 81.01%.

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.