Sabal Trust CO Acquires Shares of 3,376 Corteva, Inc. (NYSE:CTVA)

Sabal Trust CO acquired a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,376 shares of the company's stock, valued at approximately $212,000.

A number of other hedge funds have also added to or reduced their stakes in CTVA. Lake Street Advisors Group LLC grew its position in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after buying an additional 160 shares in the last quarter. Sepio Capital LP grew its holdings in Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company's stock worth $305,000 after acquiring an additional 166 shares in the last quarter. Allred Capital Management LLC grew its holdings in Corteva by 3.2% during the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company's stock worth $310,000 after acquiring an additional 171 shares in the last quarter. PFG Investments LLC increased its position in Corteva by 1.4% during the 1st quarter. PFG Investments LLC now owns 12,867 shares of the company's stock valued at $810,000 after purchasing an additional 180 shares during the period. Finally, Legacy Advisors LLC raised its holdings in shares of Corteva by 2.2% in the 1st quarter. Legacy Advisors LLC now owns 8,697 shares of the company's stock valued at $547,000 after purchasing an additional 188 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. Citigroup lifted their price objective on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. KeyCorp lifted their price target on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Oppenheimer restated an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research report on Monday, March 31st. Finally, UBS Group boosted their target price on shares of Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $72.08.

Corteva Stock Performance

Shares of NYSE CTVA traded up $0.08 during midday trading on Friday, reaching $74.38. The company had a trading volume of 5,390,596 shares, compared to its average volume of 3,400,013. Corteva, Inc. has a 1 year low of $50.30 and a 1 year high of $75.07. The business's 50-day simple moving average is $68.27 and its 200 day simple moving average is $63.27. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $50.74 billion, a P/E ratio of 45.35, a P/E/G ratio of 1.87 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The company's revenue was down 1.7% on a year-over-year basis. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were given a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.91%. Corteva's dividend payout ratio is presently 41.46%.

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.