Courier Capital LLC Sells 248 Shares of Corteva, Inc. (NYSE:CTVA)

Courier Capital LLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,293 shares of the company’s stock after selling 248 shares during the period. Courier Capital LLC’s holdings in Corteva were worth $723,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in shares of Corteva by 1.1% in the third quarter. Private Advisor Group LLC now owns 28,482 shares of the company’s stock worth $1,674,000 after acquiring an additional 313 shares during the last quarter. Westhampton Capital LLC raised its stake in shares of Corteva by 2.5% in the third quarter. Westhampton Capital LLC now owns 8,641 shares of the company’s stock worth $508,000 after acquiring an additional 213 shares during the last quarter. Eastern Bank bought a new position in shares of Corteva in the third quarter worth about $332,000. Sequoia Financial Advisors LLC raised its stake in shares of Corteva by 31.7% in the third quarter. Sequoia Financial Advisors LLC now owns 22,682 shares of the company’s stock worth $1,333,000 after acquiring an additional 5,466 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in shares of Corteva by 67.8% in the third quarter. Oakworth Capital Inc. now owns 1,178 shares of the company’s stock worth $69,000 after acquiring an additional 476 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTVA shares. JPMorgan Chase & Co. dropped their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. KeyCorp dropped their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Citigroup began coverage on shares of Corteva in a research note on Wednesday. They set a “buy” rating and a $68.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.50.

Corteva Stock Up 2.8 %

Corteva stock opened at $60.79 on Thursday. The stock has a market capitalization of $42.37 billion, a PE ratio of 76.95, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $60.88. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $56.84 and a 200-day moving average of $55.13.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 earnings per share. On average, equities research analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is 86.08%.

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.