Gulf International Bank UK Ltd Sells 15,609 Shares of Corteva, Inc. $CTVA

Key Points

• Gulf International Bank UK Ltd reduced its stake in Corteva, Inc. by 28.1%, selling 15,609 shares, and now holds a total of 39,967 shares valued at approximately $2.5 million.
• Corteva has been rated a "Moderate Buy" by analysts, with a consensus price target of $80.25, as several institutions have recently increased their holdings in the company.
• The company recently announced a quarterly dividend increase to $0.18 per share, which reflects a 1.0% dividend yield and will be paid to shareholders on September 15th.

Gulf International Bank UK Ltd decreased its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,967 shares of the company's stock after selling 15,609 shares during the period. Gulf International Bank UK Ltd's holdings in Corteva were worth $2,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTVA. Cary Street Partners Financial LLC grew its stake in shares of Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company's stock worth $5,677,000 after purchasing an additional 15,448 shares during the last quarter. Scissortail Wealth Management LLC boosted its holdings in shares of Corteva by 72,080.0% during the fourth quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock worth $206,000 after purchasing an additional 3,604 shares during the period. Allworth Financial LP boosted its holdings in shares of Corteva by 11.8% during the first quarter. Allworth Financial LP now owns 15,313 shares of the company's stock worth $945,000 after purchasing an additional 1,614 shares during the period. Brighton Jones LLC lifted its stake in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after acquiring an additional 11,760 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Corteva by 13.9% in the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company's stock valued at $279,000 after acquiring an additional 536 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Stock Performance

Corteva stock traded up $0.53 on Monday, hitting $72.29. The company's stock had a trading volume of 2,798,144 shares, compared to its average volume of 3,797,696. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $73.35 and a 200-day moving average price of $66.81. The firm has a market cap of $49.09 billion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. This is a boost from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio is currently 33.17%.

Analyst Ratings Changes

CTVA has been the subject of a number of analyst reports. Zacks Research upgraded shares of Corteva to a "hold" rating in a research note on Friday, August 8th. BMO Capital Markets lifted their price target on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reissued an "outperform" rating on shares of Corteva in a research report on Monday, August 11th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Citigroup lifted their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $80.25.

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.