Mediolanum International Funds Ltd Sells 12,890 Shares of Corteva, Inc. (NYSE:CTVA)

Mediolanum International Funds Ltd trimmed its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 33.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,920 shares of the company's stock after selling 12,890 shares during the quarter. Mediolanum International Funds Ltd's holdings in Corteva were worth $1,583,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Independent Franchise Partners LLP boosted its position in 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 buying an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. boosted its position in 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 buying an additional 1,354,418 shares in the last quarter. Capital World Investors boosted its position in Corteva by 2,874.6% in the fourth 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. Northern Trust Corp lifted its holdings in shares of Corteva by 5.5% during the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after purchasing an additional 608,898 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Corteva by 2.4% during the fourth quarter. Invesco Ltd. now owns 11,074,633 shares of the company's stock worth $630,811,000 after purchasing an additional 264,531 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

CTVA traded up $0.50 during midday trading on Tuesday, reaching $72.90. The company had a trading volume of 2,631,428 shares, compared to its average volume of 3,341,051. 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 stock has a market cap of $49.73 billion, a PE ratio of 44.45, a P/E/G ratio of 1.75 and a beta of 0.76. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $77.41. The business has a 50-day moving average price of $72.98 and a two-hundred day moving average price of $65.99.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio is 41.46%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTVA. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a report on Friday, June 6th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a report on Monday, March 31st. KeyCorp lifted their price target on shares of Corteva from $72.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Citigroup boosted their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.38.

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.