Corteva, Inc. (NYSE:CTVA) Stake Decreased by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 9.2% during the 4th quarter, Holdings Channel reports. The fund owned 7,919 shares of the company’s stock after selling 803 shares during the quarter. FineMark National Bank & Trust’s holdings in Corteva were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. King Luther Capital Management Corp grew its position in Corteva by 0.5% in the fourth quarter. King Luther Capital Management Corp now owns 464,684 shares of the company’s stock worth $22,268,000 after buying an additional 2,486 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Corteva during the fourth quarter worth $1,388,000. Brandes Investment Partners LP raised its position in shares of Corteva by 232.9% during the fourth quarter. Brandes Investment Partners LP now owns 1,932,836 shares of the company’s stock worth $92,622,000 after purchasing an additional 1,352,208 shares during the period. Assetmark Inc. lifted its holdings in shares of Corteva by 13.0% during the fourth quarter. Assetmark Inc. now owns 60,768 shares of the company’s stock valued at $2,912,000 after purchasing an additional 6,995 shares during the last quarter. Finally, BNP Paribas Asset Management Holding S.A. boosted its position in shares of Corteva by 163.5% in the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 93,512 shares of the company’s stock valued at $4,481,000 after purchasing an additional 58,020 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Mizuho boosted their price target on shares of Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Barclays lifted their price objective on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.05.

Insider Buying and Selling at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.1 %

Shares of Corteva stock opened at $55.51 on Friday. The firm has a market cap of $38.69 billion, a price-to-earnings ratio of 70.27, a P/E/G ratio of 1.47 and a beta of 0.78. The stock has a 50-day simple moving average of $56.05 and a 200-day simple moving average of $51.45. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. On average, equities research analysts expect that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.15%. The ex-dividend date is Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

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.