Steigerwald Gordon & Koch Inc. Cuts Stake in Corteva, Inc. (NYSE:CTVA)

Steigerwald Gordon & Koch Inc. trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 7.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,705 shares of the company's stock after selling 4,504 shares during the quarter. Steigerwald Gordon & Koch Inc.'s holdings in Corteva were worth $3,694,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CTVA. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in Corteva in the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the fourth quarter worth $27,000. Pinney & Scofield Inc. bought a new stake in shares of Corteva in the fourth quarter valued at $27,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Corteva during the 4th quarter valued at $31,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of NYSE CTVA traded up $0.50 during midday trading on Friday, hitting $71.70. 2,854,986 shares of the company's stock were exchanged, compared to its average volume of 3,316,597. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The business's fifty day moving average price is $64.00 and its two-hundred day moving average price is $62.03. The company has a market cap of $48.91 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $72.25.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is currently 41.46%.

Analysts Set New Price Targets

CTVA has been the subject of several recent research reports. KeyCorp lifted their price objective on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Morgan Stanley raised their price target on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Oppenheimer reiterated an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.50.

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.