Corteva, Inc. (NYSE:CTVA) Shares Sold by Callahan Advisors LLC

Callahan Advisors LLC reduced its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,552 shares of the company's stock after selling 4,990 shares during the period. Callahan Advisors LLC's holdings in Corteva were worth $8,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of CTVA. Capital World Investors lifted its stake in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after buying an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP lifted its position in shares of Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after acquiring an additional 5,604,838 shares in the last quarter. Norges Bank purchased a new position in shares of Corteva in the fourth quarter valued at approximately $251,892,000. Franklin Resources Inc. lifted its position in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after acquiring an additional 1,354,418 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its position in shares of Corteva by 69.0% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company's stock valued at $163,181,000 after acquiring an additional 1,172,110 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Argus upgraded 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. Oppenheimer reissued an "outperform" rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. KeyCorp raised their price target 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. Barclays raised their target price on shares of Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, BMO Capital Markets raised their target price on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.54.

Corteva Price Performance

NYSE:CTVA opened at $74.83 on Friday. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $77.41. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $51.05 billion, a P/E ratio of 45.63, a P/E/G ratio of 1.94 and a beta of 0.76. The stock's fifty day moving average is $71.23 and its two-hundred day moving average is $64.48.

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

Corteva Dividend Announcement

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

Corteva Company 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.

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