Country Club Bank Reduces Position in Corteva, Inc. (NYSE:CTVA)

Country Club Bank trimmed its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 83.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,605 shares of the company's stock after selling 50,022 shares during the quarter. Country Club Bank's holdings in Corteva were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva in the 4th quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in Corteva in the 4th quarter valued at about $27,000. LGT Financial Advisors LLC bought a new stake in Corteva in the 4th quarter valued at about $31,000. Valley National Advisers Inc. raised its stake in Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after acquiring an additional 243 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in Corteva in the 1st quarter valued at about $37,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CTVA shares. Oppenheimer reaffirmed an "outperform" rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, March 31st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a report on Friday, June 6th. Wells Fargo & Company lifted their target price on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Finally, Morgan Stanley lifted their target price on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Corteva has a consensus rating of "Moderate Buy" and an average price target of $75.54.

Corteva Price Performance

Shares of CTVA stock traded down $1.33 during trading on Friday, hitting $73.50. The company had a trading volume of 4,389,838 shares, compared to its average volume of 3,431,290. The stock has a market capitalization of $50.14 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. The stock's 50-day moving average is $71.45 and its two-hundred day moving average is $64.60. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. Corteva's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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