Manchester Capital Management LLC Sells 2,707 Shares of Corteva, Inc. (NYSE:CTVA)

Manchester Capital Management LLC reduced its stake in Corteva, Inc. (NYSE:CTVA) by 32.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,632 shares of the company’s stock after selling 2,707 shares during the quarter. Manchester Capital Management LLC’s holdings in Corteva were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CTVA. CVA Family Office LLC acquired a new position in Corteva in the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the first quarter valued at about $25,000. BKM Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter worth about $27,000. Rise Advisors LLC grew its stake in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in Corteva in the 4th quarter valued at about $28,000. 81.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corteva

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction 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 transaction, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. 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. 0.14% of the stock is currently owned by corporate insiders.

Corteva Price Performance

CTVA stock traded up $0.13 during mid-day trading on Friday, hitting $52.40. 460,849 shares of the stock were exchanged, compared to its average volume of 3,491,602. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The stock has a market capitalization of $36.52 billion, a price-to-earnings ratio of 66.16, a PEG ratio of 1.36 and a beta of 0.77. The business has a fifty day moving average price of $54.24 and a 200 day moving average price of $53.07. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76.

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 net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.22%. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Oppenheimer raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group upped their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Mizuho lowered their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. One 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’s stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Corteva 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.