Kingsview Wealth Management LLC Sells 337 Shares of Corteva, Inc. (NYSE:CTVA)

Kingsview Wealth Management LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,587 shares of the company’s stock after selling 337 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Corteva were worth $364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Addison Capital Co raised its holdings in shares of Corteva by 21.1% in the 4th quarter. Addison Capital Co now owns 12,352 shares of the company’s stock valued at $592,000 after purchasing an additional 2,148 shares in the last quarter. Your Advocates Ltd. LLP raised its stake in Corteva by 482.7% in the fourth quarter. Your Advocates Ltd. LLP now owns 810 shares of the company’s stock worth $39,000 after buying an additional 671 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Corteva by 6.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 826,310 shares of the company’s stock valued at $39,729,000 after acquiring an additional 48,477 shares in the last quarter. Westpac Banking Corp boosted its position in Corteva by 4.1% during the 4th quarter. Westpac Banking Corp now owns 6,290 shares of the company’s stock valued at $301,000 after acquiring an additional 249 shares in the last quarter. Finally, Ironwood Investment Counsel LLC raised its position in shares of Corteva by 10.9% in the 4th quarter. Ironwood Investment Counsel LLC now owns 55,268 shares of the company’s stock worth $2,648,000 after acquiring an additional 5,415 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Activity at Corteva

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.20% of the stock is currently owned by company insiders.

Corteva Stock Down 0.2 %

NYSE CTVA opened at $56.65 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.81. The business’s fifty day simple moving average is $56.00 and its 200-day simple moving average is $51.33. The firm has a market cap of $39.48 billion, a PE ratio of 71.71, a P/E/G ratio of 1.49 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 EPS. As a group, equities analysts anticipate that Corteva, Inc. will post 2.82 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders 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 dividend yield of 1.13%. Corteva’s payout ratio is presently 81.01%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTVA. Oppenheimer raised their price objective on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Wolfe Research started coverage on shares of Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price for the company. Canaccord Genuity Group increased their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets upped their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.24.

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.