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

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

Several other hedge funds and other institutional investors have also bought and sold shares of CTVA. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $25,000. Pinney & Scofield Inc. purchased a new position in Corteva in the 4th quarter worth $27,000. LGT Financial Advisors LLC acquired a new stake in Corteva during the 4th quarter worth about $31,000. Valley National Advisers Inc. grew its position in Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after purchasing an additional 243 shares during the period. Finally, Richardson Capital Management LLC acquired a new stake in shares of Corteva during the 1st quarter valued at about $37,000. Institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CTVA shares. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Wells Fargo & Company upped their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research note on Monday, March 31st. Morgan Stanley upped their price target on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Barclays upped their price target on Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $76.46.

Corteva Stock Down 0.6%

Corteva stock traded down $0.47 during midday trading on Monday, hitting $73.10. 2,876,243 shares of the stock were exchanged, compared to its average volume of 3,432,812. The firm has a market cap of $49.87 billion, a P/E ratio of 44.57, a P/E/G ratio of 1.88 and a beta of 0.76. The company has a 50 day moving average price of $71.45 and a two-hundred day moving average price of $64.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. Corteva, Inc. has a 1 year low of $50.30 and a 1 year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share 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 business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal 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 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio (DPR) 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.