Fifth Third Bancorp trimmed its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,822 shares of the company's stock after selling 9,101 shares during the period. Fifth Third Bancorp's holdings in Corteva were worth $9,051,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva in the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the 4th quarter valued at $26,000. Pinney & Scofield Inc. acquired a new position in shares of Corteva in the 4th quarter valued at $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corteva in the 4th quarter valued at $31,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on CTVA shares. Oppenheimer reiterated an "outperform" rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Citigroup increased their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. KeyCorp increased their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Finally, Barclays increased their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and an average price target of $70.92.
View Our Latest Research Report on Corteva
Corteva Price Performance
CTVA traded down $0.16 during midday trading on Friday, hitting $72.36. The company had a trading volume of 3,344,804 shares, compared to its average volume of 3,329,755. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market capitalization of $49.36 billion, a PE ratio of 56.09, a P/E/G ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $72.91. The firm's 50-day simple moving average is $65.54 and its 200-day simple moving average is $62.49.
Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. Equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.
Corteva Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is presently 41.46%.
About Corteva
(
Free Report)
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.
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