Corteva, Inc. (NYSE:CTVA) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,371 shares of the company's stock after selling 7,657 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.06% of Corteva worth $23,811,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Corteva by 6.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock valued at $270,764,000 after purchasing an additional 288,885 shares during the period. Brighton Jones LLC lifted its holdings in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after buying an additional 11,760 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Corteva during the fourth quarter valued at $655,000. Golden State Wealth Management LLC bought a new stake in Corteva in the 4th quarter valued at $32,000. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Corteva by 10.9% during the 4th quarter. Apollon Wealth Management LLC now owns 6,891 shares of the company's stock valued at $392,000 after purchasing an additional 678 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Stock Up 0.1%

NYSE CTVA traded up $0.08 during trading on Thursday, reaching $72.15. 2,345,175 shares of the company's stock traded hands, compared to its average volume of 3,311,109. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The firm has a market cap of $49.22 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The company's 50 day simple moving average is $64.86 and its two-hundred day simple moving average is $62.37. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $72.40.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. Corteva's revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.89 earnings per share. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.94%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Analysts Set New Price Targets

A number of research firms have recently commented on CTVA. Morgan Stanley increased their target price on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Citigroup upped their target price 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. The Goldman Sachs Group initiated coverage on Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target for the company. Barclays upped their price objective on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company lifted their target price on Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

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.