Corteva, Inc. $CTVA Stock Position Reduced by Albar Capital Partners LLP

Key Points

• Albar Capital Partners LLP reduced its stake in Corteva, Inc. by **21.7%**, now holding approximately **504,181 shares**, making it the firm's **2nd largest position**.
• A significant number of institutional investors increased their holdings in Corteva during the last quarter, with Brighton Jones LLC growing its position by **307.2%**.
• Corteva announced an increase in its quarterly dividend from **$0.17** to **$0.18**, reflecting a **1.0% dividend yield** based on an annualized payout of **$0.72**.

Albar Capital Partners LLP cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 21.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,181 shares of the company's stock after selling 139,589 shares during the quarter. Corteva comprises approximately 14.4% of Albar Capital Partners LLP's holdings, making the stock its 2nd largest position. Albar Capital Partners LLP owned about 0.07% of Corteva worth $31,728,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTVA. Brighton Jones LLC grew its position in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after acquiring an additional 11,760 shares in the last quarter. Beacon Pointe Advisors LLC grew its position in Corteva by 21.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 24,207 shares of the company's stock worth $1,379,000 after acquiring an additional 4,341 shares in the last quarter. Lido Advisors LLC grew its position in Corteva by 7.5% in the fourth quarter. Lido Advisors LLC now owns 20,040 shares of the company's stock worth $1,141,000 after acquiring an additional 1,404 shares in the last quarter. AQR Capital Management LLC grew its position in Corteva by 0.6% in the fourth quarter. AQR Capital Management LLC now owns 103,720 shares of the company's stock worth $5,908,000 after acquiring an additional 640 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Corteva in the fourth quarter worth approximately $287,000. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CTVA. Wall Street Zen upgraded shares of Corteva from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. KeyCorp boosted their price objective on shares of Corteva from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Barclays upgraded shares of Corteva from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $75.00 to $84.00 in a research note on Wednesday, August 13th. Finally, UBS Group boosted their price objective on shares of Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.25.

Corteva Price Performance

NYSE:CTVA opened at $74.28 on Friday. The stock has a market cap of $50.45 billion, a P/E ratio of 36.24, a PEG ratio of 1.72 and a beta of 0.75. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company has a fifty day moving average price of $73.42 and a 200 day moving average price of $67.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

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

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio is currently 33.17%.

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.

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