Corteva, Inc. (NYSE:CTVA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,118,361 shares of the company's stock after selling 244,300 shares during the quarter. Bank of New York Mellon Corp owned about 0.75% of Corteva worth $322,098,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CTVA. Brighton Jones LLC boosted its position in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after purchasing an additional 11,760 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Corteva by 7.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 32,577 shares of the company's stock worth $1,856,000 after acquiring an additional 2,334 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Corteva in the fourth quarter worth $7,564,000. Candriam S.C.A. grew its stake in shares of Corteva by 14.4% in the fourth quarter. Candriam S.C.A. now owns 33,520 shares of the company's stock worth $1,909,000 after acquiring an additional 4,224 shares in the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Corteva in the fourth quarter worth $669,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CTVA. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a report on Friday, June 6th. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. Wells Fargo & Company raised their price objective on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Barclays raised their price objective on shares of Corteva from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday. Finally, KeyCorp raised their price objective on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Corteva has a consensus rating of "Moderate Buy" and an average target price of $72.50.

Corteva Stock Performance

NYSE CTVA traded down $0.07 during trading hours on Tuesday, hitting $76.52. The company had a trading volume of 292,385 shares, compared to its average volume of 3,705,997. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The company has a market cap of $52.20 billion, a PE ratio of 46.66, a price-to-earnings-growth ratio of 1.97 and a beta of 0.76. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $77.41. The business has a 50 day moving average of $70.40 and a 200-day moving average of $64.19.

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

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.89%. Corteva's dividend payout ratio is currently 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.