Saturna Capital Corp Sells 5,820 Shares of Corteva, Inc. (NYSE:CTVA)

Saturna Capital Corp trimmed its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 18.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 25,466 shares of the company's stock after selling 5,820 shares during the period. Saturna Capital Corp's holdings in Corteva were worth $1,603,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new position in shares of Corteva during the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC purchased a new position in Corteva during the fourth quarter worth approximately $31,000. Valley National Advisers Inc. raised its stake in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after purchasing an additional 243 shares during the period. Richardson Capital Management LLC purchased a new position in Corteva during the first quarter worth approximately $37,000. Finally, von Borstel & Associates Inc. purchased a new position in shares of Corteva in the 1st quarter valued at $44,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of NYSE CTVA traded down $0.12 during midday trading on Friday, reaching $73.05. The company's stock had a trading volume of 3,693,188 shares, compared to its average volume of 3,458,278. The company has a 50 day moving average price of $72.30 and a 200 day moving average price of $65.20. The company has a market cap of $49.83 billion, a price-to-earnings ratio of 44.54, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. 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 one year low of $50.30 and a one year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm's revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's payout ratio is 41.46%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CTVA shares. Citigroup raised their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. BMO Capital Markets raised 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. Royal Bank Of Canada raised their price target on shares of Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. UBS Group raised their price objective on shares of Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a report on Friday, June 6th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.38.

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.