First Foundation Advisors Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

First Foundation Advisors cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,696 shares of the company’s stock after selling 344 shares during the period. First Foundation Advisors’ holdings in Corteva were worth $328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mediolanum International Funds Ltd bought a new position in shares of Corteva in the 1st quarter valued at about $2,270,000. WCM Investment Management LLC grew its holdings in shares of Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after buying an additional 213,949 shares during the last quarter. Red Mountain Financial LLC purchased a new stake in shares of Corteva during the fourth quarter valued at $862,000. Parsons Capital Management Inc. RI purchased a new stake in Corteva in the first quarter valued at $230,000. Finally, California State Teachers Retirement System boosted its holdings in Corteva by 15.1% in the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock valued at $66,287,000 after purchasing an additional 181,883 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,556 shares of company stock worth $4,795,016. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTVA. Canaccord Genuity Group upped their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a report on Friday, April 12th. 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 report on Friday, May 3rd. Finally, Barclays lifted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. One equities 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. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Corteva Trading Down 0.8 %

Shares of CTVA traded down $0.42 during midday trading on Friday, hitting $54.78. The stock had a trading volume of 2,088,346 shares, compared to its average volume of 3,026,307. The business has a 50-day simple moving average of $53.89 and a two-hundred day simple moving average of $53.37. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $38.18 billion, a P/E ratio of 69.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, equities analysts forecast that Corteva, Inc. will post 2.79 EPS for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

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.