Westwood Holdings Group Inc. Sells 6,154 Shares of Corteva, Inc. (NYSE:CTVA)

Key Points

• Westwood Holdings Group Inc. has reduced its holdings in Corteva, Inc. by 3.9%, selling 6,154 shares, bringing its total to 151,675 shares valued at approximately $9.54 million.
• Corteva recently announced an increase in its quarterly dividend from $0.17 to $0.18 per share, reflecting a 1.0% yield.
• Analysts have a consensus rating of "Moderate Buy" for Corteva, with an average target price of $79.25, while several brokerages have issued positive price targets, including UBS raising it to $90.

Westwood Holdings Group Inc. cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,675 shares of the company's stock after selling 6,154 shares during the period. Westwood Holdings Group Inc.'s holdings in Corteva were worth $9,545,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after purchasing an additional 11,760 shares during the period. FIL Ltd lifted its position in Corteva by 2.0% in the fourth quarter. FIL Ltd now owns 2,672,061 shares of the company's stock worth $152,201,000 after buying an additional 51,764 shares during the last quarter. Azimuth Capital Investment Management LLC boosted its stake in Corteva by 2.0% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 126,926 shares of the company's stock worth $7,230,000 after buying an additional 2,430 shares during the period. DRW Securities LLC bought a new position in Corteva during the fourth quarter valued at $380,000. Finally, Bessemer Group Inc. raised its stake in shares of Corteva by 44.8% in the fourth quarter. Bessemer Group Inc. now owns 3,090,839 shares of the company's stock valued at $176,053,000 after acquiring an additional 956,775 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

CTVA opened at $71.11 on Thursday. The firm has a market capitalization of $48.51 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The business's 50-day moving average is $73.27 and its two-hundred day moving average is $66.40. Corteva, Inc. has a 1 year low of $50.75 and a 1 year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. Research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.18 per share. This is a positive change from Corteva's previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva's dividend payout ratio (DPR) is presently 43.90%.

Analysts Set New Price Targets

Several brokerages have issued reports on CTVA. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a research note on Friday, June 6th. UBS Group raised their price target on Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Oppenheimer set a $87.00 price objective on Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company increased their target price on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, June 23rd. Finally, Morgan Stanley boosted their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and an average target price of $79.25.

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.

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