Corteva, Inc. (NYSE:CTVA) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 6.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 170,803 shares of the company’s stock after selling 11,198 shares during the quarter. Amalgamated Bank’s holdings in Corteva were worth $8,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC bought a new stake in Corteva in the fourth quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $27,000. NewSquare Capital LLC raised its holdings in shares of Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its position in shares of Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after buying an additional 389 shares during the period. Finally, Naples Money Management LLC bought a new position in Corteva in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTVA. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Wells Fargo & Company raised their price objective on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group dropped their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. KeyCorp increased their price target on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, BMO Capital Markets raised their price objective on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.38.

Corteva Stock Up 0.3 %

CTVA stock opened at $57.16 on Friday. The company has a 50 day moving average of $55.37 and a two-hundred day moving average of $50.66. The company has a market cap of $39.95 billion, a price-to-earnings ratio of 72.35, a PEG ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $60.57. The company has a quick ratio of 0.90, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $1.16 earnings per share. Corteva’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. Corteva’s payout ratio is 81.01%.

Corteva Company 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.