Cramer Rosenthal Mcglynn LLC Sells 137,152 Shares of Corteva, Inc. $CTVA

Key Points

• Cramer Rosenthal Mcglynn LLC sold 137,152 shares of Corteva, Inc. during the first quarter, reducing their holdings by 65.9%, leaving them with 71,126 shares worth approximately $4.48 million.
• Corteva's recent quarterly earnings topped analysts' expectations, reporting $2.20 EPS and revenue of $6.46 billion, a 5.6% increase from the previous year.
• The company declared a quarterly dividend of $0.18 per share, reflecting a positive change from its previous dividend of $0.17, with a current yield of 1.0%.

Cramer Rosenthal Mcglynn LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 65.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,126 shares of the company's stock after selling 137,152 shares during the quarter. Cramer Rosenthal Mcglynn LLC's holdings in Corteva were worth $4,476,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CTVA. Pinney & Scofield Inc. bought a new position in Corteva in the 4th quarter valued at about $27,000. LGT Financial Advisors LLC bought a new position in Corteva in the 4th quarter valued at about $31,000. Valley National Advisers Inc. lifted its position 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 in the last quarter. Richardson Capital Management LLC bought a new position in shares of Corteva during the 1st quarter worth approximately $37,000. Finally, von Borstel & Associates Inc. bought a new position in shares of Corteva during the 1st quarter worth approximately $44,000. Institutional investors own 81.54% of the company's stock.

Analysts Set New Price Targets

CTVA has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their target price on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company reissued an "overweight" rating and set a $83.00 target price (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. Royal Bank Of Canada reissued an "outperform" rating on shares of Corteva in a research report on Monday, August 11th. Finally, Oppenheimer set a $87.00 target price on shares of Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $80.25.

Corteva Stock Performance

Corteva stock traded down $0.11 during mid-day trading on Friday, reaching $74.22. The company's stock had a trading volume of 3,857,374 shares, compared to its average volume of 3,811,291. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a market capitalization of $50.40 billion, a P/E ratio of 36.20, a PEG ratio of 1.72 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The firm's fifty day moving average price is $73.42 and its two-hundred day moving average price is $67.36.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the business earned $1.83 EPS. Corteva's revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio (DPR) is presently 33.17%.

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.