Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stake in Corteva, Inc. (NYSE:CTVA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,844 shares of the company's stock after selling 3,565 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Corteva were worth $723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Corteva during the fourth quarter worth about $25,000. Noble Wealth Management PBC purchased a new position in Corteva in the fourth quarter valued at about $26,000. Pinney & Scofield Inc. purchased a new position in Corteva in the fourth quarter valued at about $27,000. LGT Financial Advisors LLC purchased a new position in Corteva in the fourth quarter valued at about $31,000. Finally, J.Safra Asset Management Corp purchased a new position in Corteva in the fourth quarter valued at about $37,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research analyst reports. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a research note on Monday, March 31st. KeyCorp boosted their target price on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price on the stock. Citigroup boosted their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Barclays boosted their price target on shares of Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.08.

Corteva Price Performance

Shares of NYSE:CTVA traded up $0.08 during trading on Friday, reaching $74.38. The company had a trading volume of 5,390,596 shares, compared to its average volume of 3,390,137. The company has a fifty day moving average of $68.57 and a two-hundred day moving average of $63.39. The stock has a market capitalization of $50.74 billion, a P/E ratio of 45.35, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $75.05. 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 (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The business'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 firm earned $0.89 EPS. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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

Corteva 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.