Corteva, Inc. (NYSE:CTVA) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 26.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,853 shares of the company's stock after selling 87,367 shares during the quarter. Davidson Investment Advisors' holdings in Corteva were worth $15,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in Corteva during the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new stake in Corteva in the 4th quarter worth approximately $27,000. LGT Financial Advisors LLC bought a new position in shares of Corteva in the 4th quarter worth approximately $31,000. Valley National Advisers Inc. raised its position in shares of Corteva by 85.9% in 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 in the last quarter. Finally, Richardson Capital Management LLC bought a new position in shares of Corteva in the 1st quarter worth approximately $37,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTVA. 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. UBS Group lifted their target price on Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays lifted their target price on Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday. 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. Finally, Wells Fargo & Company lifted their target price on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday, June 23rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $72.50.

Corteva Price Performance

Shares of CTVA stock traded down $0.32 during trading hours on Tuesday, hitting $76.26. The stock had a trading volume of 607,904 shares, compared to its average volume of 3,391,863. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.41. 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 stock's 50-day moving average price is $70.40 and its two-hundred day moving average price is $64.19. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 1.97 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. Equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, June 2nd. Corteva's payout ratio is presently 41.46%.

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.