Corteva, Inc. (NYSE:CTVA) is Olstein Capital Management L.P.'s 9th Largest Position

Olstein Capital Management L.P. reduced its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,000 shares of the company's stock after selling 14,960 shares during the period. Corteva makes up approximately 1.7% of Olstein Capital Management L.P.'s investment portfolio, making the stock its 9th biggest position. Olstein Capital Management L.P.'s holdings in Corteva were worth $9,314,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Flagship Wealth Advisors LLC bought a new position in Corteva in the fourth quarter valued at about $25,000. Noble Wealth Management PBC acquired a new position in Corteva during the 4th quarter worth approximately $26,000. Pinney & Scofield Inc. bought a new position in shares of Corteva in the 4th quarter worth $27,000. LGT Financial Advisors LLC bought a new position in shares of Corteva in the fourth quarter valued at $31,000. Finally, Golden State Wealth Management LLC bought a new position in Corteva in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTVA. 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. Citigroup increased 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. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Barclays boosted their price objective on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Corteva presently has an average rating of "Moderate Buy" and an average price target of $70.50.

Corteva Price Performance

Shares of NYSE:CTVA traded up $0.46 during trading on Wednesday, reaching $72.01. The company had a trading volume of 4,949,533 shares, compared to its average volume of 3,317,014. The stock has a market capitalization of $49.12 billion, a P/E ratio of 55.82, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $73.00. The company has a fifty day moving average of $64.53 and a two-hundred day moving average of $62.30.

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 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the firm posted $0.89 earnings per share. The business's revenue was down 1.7% compared to the same quarter last year. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Corteva 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.