Advisors Asset Management Inc. Sells 11,826 Shares of Corteva, Inc. (NYSE:CTVA)

Advisors Asset Management Inc. cut its position in Corteva, Inc. (NYSE:CTVA) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,863 shares of the company’s stock after selling 11,826 shares during the quarter. Advisors Asset Management Inc.’s holdings in Corteva were worth $3,683,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC bought a new stake in shares of Corteva in the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva in the first quarter valued at $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva in the first quarter valued at $25,000. Rise Advisors LLC grew its position in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter valued at $28,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Up 0.2 %

Shares of CTVA stock traded up $0.11 during midday trading on Friday, reaching $55.39. 2,237,847 shares of the stock were exchanged, compared to its average volume of 3,425,469. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The company’s 50 day moving average is $53.70 and its two-hundred day moving average is $53.52. 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 $38.61 billion, a PE ratio of 70.48, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. On average, equities research analysts predict that Corteva, Inc. will post 2.78 EPS for the current year.

Insider Activity at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the business’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 transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Samuel R. Eathington sold 31,686 shares of the business’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 transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,556 shares of company stock worth $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTVA shares. Canaccord Genuity Group lifted their price target on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Oppenheimer boosted their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

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.