D.A. Davidson & CO. Has $2.77 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

D.A. Davidson & CO. reduced its stake in Corteva, Inc. (NYSE:CTVA) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,786 shares of the company’s stock after selling 2,296 shares during the period. D.A. Davidson & CO.’s holdings in Corteva were worth $2,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. UBS Group AG lifted its position in Corteva by 15.6% during the 4th quarter. UBS Group AG now owns 1,739,788 shares of the company’s stock worth $83,371,000 after buying an additional 235,385 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Corteva by 24.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,502 shares of the company’s stock worth $647,000 after purchasing an additional 2,643 shares during the last quarter. Norges Bank acquired a new stake in shares of Corteva in the 4th quarter valued at approximately $265,298,000. Manchester Capital Management LLC grew its stake in shares of Corteva by 15.7% in the fourth quarter. Manchester Capital Management LLC now owns 8,339 shares of the company’s stock valued at $400,000 after buying an additional 1,133 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Corteva by 2.1% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,107 shares of the company’s stock worth $1,203,000 after buying an additional 511 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Activity at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.1 %

CTVA stock traded down $0.06 during trading on Friday, reaching $55.51. The stock had a trading volume of 2,282,195 shares, compared to its average volume of 3,826,851. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $38.69 billion, a price-to-earnings ratio of 70.27, a P/E/G ratio of 1.47 and a beta of 0.78. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.81. The company’s 50 day moving average is $56.05 and its two-hundred day moving average is $51.43.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share 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 company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities research analysts forecast that Corteva, Inc. will post 2.82 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, June 4th. Corteva’s payout ratio is currently 81.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTVA. Wells Fargo & Company lifted their price objective on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Mizuho upped their price objective on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $65.00 in a report on Monday, February 12th. Canaccord Genuity Group raised their price target on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.05.

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.