Baxter Bros Inc. Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

Baxter Bros Inc. decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,776 shares of the company’s stock after selling 550 shares during the period. Baxter Bros Inc.’s holdings in Corteva were worth $869,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in Corteva in the first quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new position in shares of Corteva during the 2nd quarter worth approximately $34,000. Redwood Wealth Management Group LLC purchased a new position in shares of Corteva during the 2nd quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC purchased a new stake in Corteva in the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.1 %

Shares of CTVA opened at $60.86 on Friday. The business has a 50-day moving average of $57.79 and a 200 day moving average of $55.39. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $62.38. The firm has a market cap of $42.13 billion, a P/E ratio of 46.82, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. As a group, research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. Corteva’s payout ratio is 52.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTVA shares. KeyCorp decreased their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Citigroup began coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One 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. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.84.

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.