Silvercrest Asset Management Group LLC Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Silvercrest Asset Management Group LLC lowered its position in Corteva, Inc. (NYSE:CTVA) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,120 shares of the company’s stock after selling 179 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Corteva were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Mediolanum International Funds Ltd purchased a new stake in Corteva during the 1st quarter worth about $2,270,000. WCM Investment Management LLC increased 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 purchasing an additional 213,949 shares in the last quarter. Red Mountain Financial LLC purchased a new stake in Corteva during the 4th quarter worth about $862,000. Parsons Capital Management Inc. RI purchased a new stake in Corteva during the 1st quarter worth about $230,000. Finally, California State Teachers Retirement System increased its position in Corteva by 15.1% during the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after purchasing an additional 181,883 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity

In other news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Samuel R. Eathington sold 31,686 shares of the company’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 transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. 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 company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following 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. In the last three months, insiders sold 83,556 shares of company stock worth $4,795,016. 0.14% of the stock is currently owned by insiders.

Corteva Stock Up 1.0 %

NYSE CTVA opened at $56.10 on Thursday. The stock has a market cap of $39.10 billion, a PE ratio of 71.01, a P/E/G ratio of 1.50 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. The business has a 50 day moving average price of $53.61 and a two-hundred day moving average price of $53.83. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. As a group, sell-side analysts predict that Corteva, Inc. will post 2.78 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio is 81.01%.

Analyst Ratings Changes

A number of analysts recently commented on CTVA shares. Mizuho dropped their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Canaccord Genuity Group lifted 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. BMO Capital Markets lifted their price target on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.