UMB Bank n.a. Has $382,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

UMB Bank n.a. reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,074 shares of the company’s stock after selling 510 shares during the quarter. UMB Bank n.a.’s holdings in Corteva were worth $382,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Gemmer Asset Management LLC acquired a new stake in shares of Corteva during the 1st quarter worth $221,000. Impact Capital Partners LLC acquired a new stake in Corteva in the first quarter valued at about $204,000. Atwater Malick LLC acquired a new stake in Corteva in the first quarter valued at about $208,000. Foster Group Inc. boosted its stake in Corteva by 2.6% in the first quarter. Foster Group Inc. now owns 7,810 shares of the company’s stock valued at $491,000 after buying an additional 199 shares in the last quarter. Finally, Chesley Taft & Associates LLC boosted its stake in Corteva by 2.1% in the first quarter. Chesley Taft & Associates LLC now owns 33,440 shares of the company’s stock valued at $2,104,000 after buying an additional 681 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CTVA shares. UBS Group raised their price objective on Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Wells Fargo & Company raised their price objective on Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Bank of America raised their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group started coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $70.50.

Corteva Price Performance

Shares of CTVA opened at $71.51 on Wednesday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $72.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market capitalization of $48.78 billion, a price-to-earnings ratio of 55.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The business has a 50-day moving average of $64.53 and a 200-day moving average of $62.30.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.95%. Corteva’s dividend payout ratio is currently 41.46%.

Corteva 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.