InterOcean Capital LLC trimmed its position in Corteva (NYSE:CTVA) by 82.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,572 shares of the company’s stock after selling 40,113 shares during the quarter. InterOcean Capital LLC’s holdings in Corteva were worth $201,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Corteva by 153.2% during the fourth quarter. Boston Partners now owns 22,504,735 shares of the company’s stock valued at $665,132,000 after buying an additional 13,616,097 shares in the last quarter. Geode Capital Management LLC boosted its position in Corteva by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 11,971,072 shares of the company’s stock worth $353,188,000 after acquiring an additional 514,820 shares during the period. Bank of America Corp DE grew its stake in Corteva by 12.5% during the 4th quarter. Bank of America Corp DE now owns 8,249,373 shares of the company’s stock valued at $243,851,000 after acquiring an additional 919,616 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Corteva by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,860,822 shares of the company’s stock valued at $161,232,000 after purchasing an additional 289,695 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Corteva by 63.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,818,943 shares of the company’s stock worth $201,568,000 after purchasing an additional 2,646,205 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.
CTVA has been the topic of a number of research analyst reports. Susquehanna Bancshares raised shares of Corteva from a “neutral” rating to a “positive” rating and lowered their price objective for the company from $34.00 to $29.00 in a research report on Tuesday, March 31st. JPMorgan Chase & Co. upgraded shares of Corteva from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $26.00 to $29.00 in a report on Friday, January 31st. CSFB cut their price objective on Corteva from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Royal Bank of Canada boosted their target price on Corteva from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Edward Jones raised Corteva from a “hold” rating to a “buy” rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.47.
Shares of Corteva stock traded down $0.01 on Friday, reaching $24.54. The stock had a trading volume of 3,830,587 shares, compared to its average volume of 4,143,174. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.60. The business’s 50-day moving average price is $25.09 and its two-hundred day moving average price is $26.66. The stock has a market cap of $18.37 billion and a P/E ratio of -21.53. Corteva has a fifty-two week low of $20.38 and a fifty-two week high of $32.78.
Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.39 by $0.20. The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.56 billion. Corteva had a negative net margin of 5.91% and a positive return on equity of 5.09%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities analysts forecast that Corteva will post 1.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.52 annualized dividend and a yield of 2.12%. Corteva’s payout ratio is 36.36%.
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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