North Star Investment Management Corp. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 36.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,721 shares of the company’s stock after selling 999 shares during the period. North Star Investment Management Corp.’s holdings in Corteva were worth $67,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings in shares of Corteva by 71.5% during the third quarter. JFS Wealth Advisors LLC now owns 943 shares of the company’s stock worth $27,000 after buying an additional 393 shares in the last quarter. Advisory Alpha LLC purchased a new position in Corteva in the third quarter valued at approximately $30,000. Endurance Wealth Management Inc. lifted its stake in Corteva by 164.6% in the third quarter. Endurance Wealth Management Inc. now owns 1,098 shares of the company’s stock valued at $32,000 after purchasing an additional 683 shares during the last quarter. Clean Yield Group lifted its stake in Corteva by 133.3% in the third quarter. Clean Yield Group now owns 1,437 shares of the company’s stock valued at $41,000 after purchasing an additional 821 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new position in Corteva in the third quarter valued at approximately $55,000. 77.15% of the stock is owned by hedge funds and other institutional investors.
CTVA has been the subject of a number of recent analyst reports. BNP Paribas cut shares of Corteva from an “outperform” rating to an “underperform” rating in a research report on Monday, October 19th. 140166 cut shares of Corteva from a “positive” rating to a “neutral” rating in a report on Friday, December 18th. ValuEngine raised shares of Corteva from a “sell” rating to a “hold” rating in a report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Corteva from $40.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 8th. Finally, Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, October 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $35.95.
Shares of Corteva stock opened at $44.13 on Thursday. The business’s fifty day simple moving average is $39.45 and its 200 day simple moving average is $32.50. The firm has a market capitalization of $32.88 billion, a P/E ratio of 53.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. Corteva, Inc. has a 12 month low of $20.38 and a 12 month high of $44.96. The company has a current ratio of 1.82, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05.
Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.39) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.03. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.91 billion. Corteva had a return on equity of 4.70% and a net margin of 4.42%. Corteva’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted ($0.39) earnings per share. Analysts predict that Corteva, Inc. will post 1.4 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Friday, November 13th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, November 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.18%. Corteva’s dividend payout ratio (DPR) is currently 36.36%.
In other Corteva news, SVP Neal Gutterson sold 26,211 shares of the company’s stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $37.01, for a total transaction of $970,069.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Titus sold 8,545 shares of the company’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $38.50, for a total value of $328,982.50. Following the transaction, the insider now directly owns 21,049 shares of the company’s stock, valued at approximately $810,386.50. The disclosure for this sale can be found here. Insiders have sold 47,871 shares of company stock worth $1,768,306 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.
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 weeds, as well as food and nutritional characteristics.
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