Corteva, Inc. (NYSE:CTVA) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,133,945 shares of the company's stock after selling 142,789 shares during the period. Corteva comprises about 8.0% of Folger Nolan Fleming Douglas Capital Management Inc.'s investment portfolio, making the stock its 2nd biggest position. Folger Nolan Fleming Douglas Capital Management Inc. owned 0.17% of Corteva worth $71,359,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CTVA. Capital World Investors raised its position in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after purchasing an additional 12,381,436 shares during the last quarter. Independent Franchise Partners LLP increased its position in Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the period. Norges Bank acquired a new stake in Corteva in the fourth quarter worth about $251,892,000. Raymond James Financial Inc. bought a new stake in Corteva during the 4th quarter worth about $161,052,000. Finally, Franklin Resources Inc. lifted its position in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after purchasing an additional 1,354,418 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several analyst reports. UBS Group boosted their target price on Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. KeyCorp lifted their price objective on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Morgan Stanley upped their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Citigroup boosted their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Barclays raised their price objective on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and an average price target of $70.92.

Corteva Stock Performance

Shares of CTVA traded down $0.16 during midday trading on Friday, reaching $72.36. 3,344,804 shares of the stock were exchanged, compared to its average volume of 3,329,755. The stock's 50 day simple moving average is $65.54 and its 200 day simple moving average is $62.49. The company has a market cap of $49.36 billion, a P/E ratio of 56.09, a PEG ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $72.91. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The business's revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.94%. Corteva's dividend payout ratio is 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.