Edgestream Partners L.P. Sells 20,863 Shares of Corteva, Inc. (NYSE:CTVA)

Edgestream Partners L.P. lowered its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 59.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,347 shares of the company's stock after selling 20,863 shares during the quarter. Edgestream Partners L.P.'s holdings in Corteva were worth $903,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTVA. Vanguard Group Inc. grew its position in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after buying an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after buying an additional 1,354,418 shares in the last quarter. Capital World Investors lifted its holdings in shares of 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 during the period. Finally, Northern Trust Corp boosted its stake in shares of Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock valued at $663,521,000 after buying an additional 608,898 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTVA shares. Barclays lifted 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. BMO Capital Markets upped their price target on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a report on Monday, March 31st. Finally, Oppenheimer set a $87.00 price target on Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.38.

Corteva Stock Performance

Corteva stock traded up $1.10 during mid-day trading on Tuesday, reaching $74.10. The company's stock had a trading volume of 1,887,086 shares, compared to its average volume of 3,449,147. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $77.41. The business has a 50 day moving average price of $72.30 and a 200-day moving average price of $65.26. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of 45.23, a PEG ratio of 1.86 and a beta of 0.76.

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, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend 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.