Auxier Asset Management Lowers Stake in Corteva, Inc. (NYSE:CTVA)

Auxier Asset Management decreased its position in Corteva, Inc. (NYSE:CTVA) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 55,384 shares of the company’s stock after selling 1,330 shares during the quarter. Auxier Asset Management’s holdings in Corteva were worth $3,155,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CTVA. Pinney & Scofield Inc. acquired a new position in shares of Corteva in the fourth quarter valued at approximately $27,000. Vise Technologies Inc. purchased a new position in Corteva in the 4th quarter valued at approximately $238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Corteva by 5.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,089,845 shares of the company’s stock worth $232,958,000 after acquiring an additional 214,256 shares in the last quarter. Waverly Advisors LLC raised its stake in shares of Corteva by 18.6% in the fourth quarter. Waverly Advisors LLC now owns 14,369 shares of the company’s stock valued at $818,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in Corteva in the fourth quarter valued at $2,351,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of CTVA opened at $69.07 on Friday. The firm has a fifty day moving average price of $62.49 and a 200 day moving average price of $61.25. The stock has a market cap of $47.11 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $69.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s dividend payout ratio is currently 41.46%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of analyst reports. UBS Group increased their price target on Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. KeyCorp raised their target price on shares of Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Bank of America lifted their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, Barclays lifted their price objective on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.