Natixis Advisors LLC Sells 916,791 Shares of Corteva, Inc. (NYSE:CTVA)

Key Points

• Natixis Advisors LLC has reduced its stake in Corteva, Inc. by 54%, selling 916,791 shares and leaving it with approximately 780,916 shares valued at $49.14 million.
• Corteva recently declared a quarterly dividend of $0.18 per share, marking an increase from the previous dividend of $0.17, with an ex-dividend date set for September 2nd.
• Analyst ratings for Corteva are positive, with a consensus of 12 buy ratings and an average price target of $77.38 per share, reflecting a strong market outlook.

Natixis Advisors LLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 54.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 780,916 shares of the company's stock after selling 916,791 shares during the quarter. Natixis Advisors LLC owned 0.11% of Corteva worth $49,143,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of 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 in the last quarter. American Century Companies Inc. lifted its holdings in shares of Corteva by 4.8% in the fourth quarter. American Century Companies Inc. now owns 131,538 shares of the company's stock worth $7,492,000 after acquiring an additional 6,040 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Corteva by 23.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 23,575 shares of the company's stock valued at $1,343,000 after buying an additional 4,498 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Corteva by 18.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 26,073 shares of the company's stock valued at $1,490,000 after buying an additional 4,137 shares during the last quarter. Finally, Summit Financial LLC raised its holdings in Corteva by 52.5% in the 4th quarter. Summit Financial LLC now owns 8,208 shares of the company's stock valued at $468,000 after buying an additional 2,824 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE CTVA traded down $0.99 during midday trading on Friday, hitting $71.14. 4,770,918 shares of the company's stock were exchanged, compared to its average volume of 3,547,760. The company has a market cap of $48.53 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 1.72 and a beta of 0.75. The business's fifty day moving average price is $73.15 and its two-hundred day moving average price is $66.23. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed 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 is an increase from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva's payout ratio is 41.46%.

Analysts Set New Price Targets

CTVA has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Morgan Stanley raised their price objective on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Oppenheimer set a $87.00 price objective on Corteva and gave the company an "outperform" rating in a research note on Tuesday, July 15th. KeyCorp lifted their target price on Corteva from $72.00 to $84.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted their price objective on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $79.25.

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.