DAVENPORT & Co LLC Has $3.62 Million Position in Corteva, Inc. (NYSE:CTVA)

DAVENPORT & Co LLC lowered its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,493 shares of the company's stock after selling 8,831 shares during the period. DAVENPORT & Co LLC's holdings in Corteva were worth $3,618,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after purchasing an additional 646,459 shares during the period. Independent Franchise Partners LLP lifted its position in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after buying an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. lifted its position in Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after buying an additional 1,354,418 shares in the last quarter. Capital World Investors boosted its stake in shares of Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after buying an additional 12,381,436 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock valued at $663,521,000 after acquiring an additional 608,898 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research reports. UBS Group lifted their price objective on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Barclays lifted their price target on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a report on Friday, June 6th. Morgan Stanley raised their price objective on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.08.

Corteva Stock Performance

Shares of NYSE CTVA traded up $0.24 during trading hours on Friday, hitting $77.24. 1,419,340 shares of the stock were exchanged, compared to its average volume of 3,398,787. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.41. The company's 50 day moving average is $69.79 and its 200 day moving average is $63.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The firm has a market capitalization of $52.69 billion, a P/E ratio of 47.09, a P/E/G ratio of 1.96 and a beta of 0.76.

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

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.88%. 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.