Stewart & Patten Co. LLC decreased its holdings in shares of Corteva (NYSE:CTVA) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,403 shares of the company’s stock after selling 1,464 shares during the period. Stewart & Patten Co. LLC’s holdings in Corteva were worth $219,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC increased its holdings in shares of Corteva by 261.2% during the third quarter. Catalyst Capital Advisors LLC now owns 939 shares of the company’s stock worth $26,000 after buying an additional 679 shares in the last quarter. Acima Private Wealth LLC acquired a new stake in shares of Corteva during the third quarter worth approximately $27,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Corteva during the second quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Corteva during the second quarter worth approximately $30,000. Finally, Advantage Investment Management LLC increased its holdings in shares of Corteva by 101.0% during the third quarter. Advantage Investment Management LLC now owns 1,021 shares of the company’s stock worth $29,000 after buying an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Several research firms have recently weighed in on CTVA. JPMorgan Chase & Co. lowered shares of Corteva from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $27.00 to $26.00 in a report on Friday. They noted that the move was a valuation call. Redburn Partners began coverage on shares of Corteva in a report on Tuesday, November 12th. They set a “buy” rating for the company. SunTrust Banks dropped their price objective on shares of Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, October 11th. UBS Group dropped their price objective on shares of Corteva from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Vertical Research began coverage on shares of Corteva in a report on Thursday, December 19th. They set a “hold” rating and a $27.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.73.
Corteva stock traded down $1.03 during mid-day trading on Friday, hitting $28.19. 3,219,259 shares of the company traded hands, compared to its average volume of 5,421,075. Corteva has a one year low of $24.10 and a one year high of $32.78. The stock has a fifty day moving average price of $27.54 and a 200-day moving average price of $27.83.
Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.07. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.97 billion. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts anticipate that Corteva will post 1.23 earnings per share for the current year.
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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