Corteva, Inc. (NYSE:CTVA) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 15.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,269 shares of the company's stock after selling 86,961 shares during the period. Corteva makes up 1.4% of Dearborn Partners LLC's holdings, making the stock its 29th largest position. Dearborn Partners LLC owned approximately 0.07% of Corteva worth $28,965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTVA. Independent Franchise Partners LLP lifted its position in Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after purchasing an additional 5,604,838 shares during the period. Capital World Investors lifted its holdings in shares of Corteva by 2,874.6% in 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. Northern Trust Corp boosted its stake in shares of Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after buying an additional 608,898 shares during the last quarter. Invesco Ltd. grew its holdings in Corteva by 2.4% during the fourth quarter. Invesco Ltd. now owns 11,074,633 shares of the company's stock worth $630,811,000 after acquiring an additional 264,531 shares during the period. Finally, WCM Investment Management LLC raised its position in Corteva by 1.4% during the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company's stock valued at $426,088,000 after acquiring an additional 98,770 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Down 1.4%

NYSE:CTVA traded down $0.99 during trading hours on Friday, reaching $71.14. 4,770,918 shares of the stock were exchanged, compared to its average volume of 3,749,699. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $48.53 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 1.74 and a beta of 0.76. The business has a 50-day moving average of $73.11 and a two-hundred day moving average of $66.12. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $77.41.

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

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva's payout ratio is currently 41.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of Corteva from $72.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, July 14th. BMO Capital Markets increased their target price on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their target price on Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Oppenheimer set a $87.00 price target on Corteva and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Barclays raised their price objective on Corteva from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.