OneDigital Investment Advisors LLC Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

OneDigital Investment Advisors LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 21.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 13,570 shares of the company's stock after selling 3,604 shares during the period. OneDigital Investment Advisors LLC's holdings in Corteva were worth $854,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after buying an additional 646,459 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of Corteva by 51.5% during the fourth 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 position in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after acquiring an additional 1,354,418 shares in the last quarter. Capital World Investors raised 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 worth $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after buying an additional 608,898 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CTVA shares. UBS Group boosted their price target on Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research note on Monday, March 31st. Oppenheimer restated an "outperform" rating and issued a $75.00 target price (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. KeyCorp upped their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, BMO Capital Markets raised their price objective on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Corteva has a consensus rating of "Moderate Buy" and an average target price of $74.62.

Corteva Price Performance

CTVA traded down $0.20 during trading on Wednesday, hitting $76.25. 6,570,421 shares of the company traded hands, compared to its average volume of 3,750,361. The company has a market cap of $52.02 billion, a PE ratio of 46.49, a P/E/G ratio of 1.95 and a beta of 0.76. The stock's 50-day simple moving average is $70.69 and its two-hundred day simple moving average is $64.28. Corteva, Inc. has a 1 year low of $50.30 and a 1 year high of $77.41. 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 released 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. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same period in the previous year, the company earned $0.89 EPS. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 0.89%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's dividend payout ratio is presently 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.