Corteva, Inc. $CTVA Stock Holdings Cut by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its holdings in Corteva, Inc. by 46%, ending the quarter with 6,336 shares valued at $399,000.
• Corteva recently declared an increased quarterly dividend of $0.18, reflecting a 5.88% raise from the previous dividend of $0.17.
• Analysts have shown optimism for Corteva, raising price targets and consensus ratings, with a current consensus rating of "Moderate Buy" and a target price of $80.25.

Callan Family Office LLC lowered its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 46.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,336 shares of the company's stock after selling 5,401 shares during the period. Callan Family Office LLC's holdings in Corteva were worth $399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Corteva by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company's stock worth $5,022,736,000 after purchasing an additional 639,799 shares during the last quarter. Capital World Investors grew its position in shares of Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after buying an additional 12,381,436 shares in the last quarter. Northern Trust Corp increased its stake in shares of Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after buying an additional 608,898 shares during the last quarter. Nuveen LLC acquired a new stake in Corteva in the first quarter valued at $640,333,000. Finally, WCM Investment Management LLC boosted its stake in Corteva by 1.4% during the 1st quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company's stock valued at $426,088,000 after acquiring an additional 98,770 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CTVA shares. UBS Group boosted their target price on shares of Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company reiterated an "overweight" rating and issued a $83.00 price target (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. KeyCorp boosted their price objective on Corteva from $84.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Barclays raised Corteva from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $75.00 to $84.00 in a report on Wednesday, August 13th. Finally, Oppenheimer set a $87.00 target price on Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.25.

Corteva Stock Performance

Shares of CTVA traded down $0.0550 during midday trading on Tuesday, hitting $72.2350. 622,501 shares of the stock traded hands, compared to its average volume of 3,785,030. The business's 50 day moving average price is $73.36 and its two-hundred day moving average price is $66.85. The firm has a market capitalization of $49.05 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.64 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the firm posted $1.83 EPS. Corteva's quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Corteva's payout ratio is presently 35.12%.

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.