Proficio Capital Partners LLC Trims Holdings in Corteva, Inc. (NYSE:CTVA)

Proficio Capital Partners LLC trimmed its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 94.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,128 shares of the company's stock after selling 125,669 shares during the period. Proficio Capital Partners LLC's holdings in Corteva were worth $449,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in Corteva in the 4th quarter worth about $27,000. LGT Financial Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth about $31,000. Valley National Advisers Inc. lifted its holdings in shares of 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 acquiring an additional 243 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Corteva in the first quarter worth approximately $37,000. Finally, von Borstel & Associates Inc. purchased a new stake in Corteva in the first quarter valued at approximately $44,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTVA. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Citigroup increased their target price on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a research report on Monday, March 31st. Royal Bank Of Canada raised their price objective on Corteva from $74.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, Oppenheimer set a $87.00 target price on Corteva and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.38.

Corteva Stock Up 0.4%

NYSE CTVA traded up $0.29 on Friday, reaching $73.41. The company had a trading volume of 2,667,955 shares, compared to its average volume of 3,521,346. 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. The firm has a 50-day moving average of $72.84 and a 200-day moving average of $65.78. The firm has a market capitalization of $50.08 billion, a PE ratio of 44.76, a P/E/G ratio of 1.77 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last posted its 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 business had revenue of $4.42 billion for the quarter, compared to analysts' expectations 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 period in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.93%. Corteva's payout ratio is currently 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.