Grantham Mayo Van Otterloo & Co. LLC Sells 98,358 Shares of Corteva, Inc. $CTVA

Grantham Mayo Van Otterloo & Co. LLC trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 19.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 414,639 shares of the company’s stock after selling 98,358 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Corteva were worth $30,903,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CTVA. Brighton Jones LLC grew its stake in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after buying an additional 11,760 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Corteva by 4.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 20,821 shares of the company’s stock worth $1,310,000 after acquiring an additional 943 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Corteva by 9.5% during the 1st quarter. Cetera Investment Advisers now owns 128,585 shares of the company’s stock worth $8,092,000 after acquiring an additional 11,152 shares during the period. LPL Financial LLC increased its stake in Corteva by 6.9% in the first quarter. LPL Financial LLC now owns 713,729 shares of the company’s stock valued at $44,915,000 after acquiring an additional 46,218 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Corteva during the first quarter valued at approximately $338,000. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.2%

NYSE CTVA opened at $67.47 on Friday. The firm has a market capitalization of $45.59 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The business’s 50-day moving average price is $64.47 and its two-hundred day moving average price is $69.67. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.49) earnings per share. On average, analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTVA. Argus lowered their price target on Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wells Fargo & Company lowered their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. BMO Capital Markets set a $86.00 price target on shares of Corteva in a report on Monday, September 15th. Citigroup upped their target price on Corteva from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Wolfe Research boosted their price target on Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Fifteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $78.05.

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.