Criterion Capital Advisors LLC Sells 213 Shares of Corteva, Inc. (NYSE:CTVA)

Criterion Capital Advisors LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 31.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463 shares of the company’s stock after selling 213 shares during the period. Criterion Capital Advisors LLC’s holdings in Corteva were worth $27,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. WCM Investment Management LLC grew its position in Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares during the last quarter. Red Mountain Financial LLC bought a new position in Corteva in the 4th quarter valued at $862,000. California State Teachers Retirement System boosted its position in Corteva by 15.1% in the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock valued at $66,287,000 after buying an additional 181,883 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Corteva in the 1st quarter valued at $1,965,000. Finally, 17 Capital Partners LLC bought a new position in Corteva in the 4th quarter valued at $1,649,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Up 0.5 %

Shares of Corteva stock traded up $0.29 during trading on Friday, reaching $53.94. The stock had a trading volume of 6,301,369 shares, compared to its average volume of 3,420,539. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 68.28, a P/E/G ratio of 1.43 and a beta of 0.78. The stock has a fifty day moving average price of $54.77 and a two-hundred day moving average price of $52.73. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. Sell-side analysts predict that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada increased their price objective on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Canaccord Genuity Group increased their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Oppenheimer increased their price objective on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Wolfe Research started coverage on Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Corteva in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $63.00.

Insider Activity at Corteva

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 $7,269,713.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.14% of the stock is owned by insiders.

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.