Fiduciary Group LLC Sells 690 Shares of Corteva, Inc. (NYSE:CTVA)

Fiduciary Group LLC lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 13.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,369 shares of the company’s stock after selling 690 shares during the period. Fiduciary Group LLC’s holdings in Corteva were worth $209,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in Corteva by 37,003.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,760 shares of the company’s stock worth $550,000 after acquiring an additional 10,731 shares during the period. Copeland Capital Management LLC bought a new stake in shares of Corteva during the third quarter valued at approximately $117,000. Busey Trust CO raised its position in shares of Corteva by 7.6% during the third quarter. Busey Trust CO now owns 4,799 shares of the company’s stock valued at $246,000 after buying an additional 341 shares during the last quarter. Foresight Global Investors Inc. purchased a new position in shares of Corteva in the third quarter valued at $1,268,000. Finally, Xponance Inc. boosted its stake in Corteva by 3.3% during the third quarter. Xponance Inc. now owns 87,013 shares of the company’s stock worth $4,452,000 after buying an additional 2,770 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.1 %

Corteva stock opened at $55.50 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.87. The stock’s 50 day simple moving average is $55.29 and its two-hundred day simple moving average is $50.51. The firm has a market cap of $38.79 billion, a PE ratio of 54.41, a P/E/G ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the prior year, the company posted $0.16 EPS. Analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is 62.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTVA shares. Mizuho decreased their target price on Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Wolfe Research initiated coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. Oppenheimer lifted their price objective on Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.29.

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.