Mather Group LLC. Reduces Position in Corteva, Inc. (NYSE:CTVA)

Mather Group LLC. lowered its stake in Corteva, Inc. (NYSE:CTVA) by 35.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,855 shares of the company’s stock after selling 4,354 shares during the period. Mather Group LLC.’s holdings in Corteva were worth $453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CVA Family Office LLC acquired a new position in Corteva in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter worth $27,000. ICA Group Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter worth $28,000. Scarborough Advisors LLC acquired a new position in Corteva during the fourth quarter valued at $29,000. Finally, Fortis Group Advisors LLC boosted its holdings in Corteva by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 636 shares of the company’s stock valued at $30,000 after purchasing an additional 318 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred 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 completion of 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 through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, 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. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 in the last ninety days. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price target on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Oppenheimer raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group boosted their target price on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Up 0.9 %

Shares of CTVA opened at $52.37 on Friday. The stock has a 50 day moving average price of $54.83 and a 200 day moving average price of $52.37. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a market capitalization of $36.50 billion, a price-to-earnings ratio of 66.29, a PEG ratio of 1.38 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion during 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 revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm 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 of this dividend was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. Corteva’s payout ratio is 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.