Central Bank & Trust Co. Cuts Stock Position in Corteva, Inc. (NYSE:CTVA)

Central Bank & Trust Co. lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 39.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,441 shares of the company’s stock after selling 8,026 shares during the period. Central Bank & Trust Co.’s holdings in Corteva were worth $717,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Rise Advisors LLC boosted its holdings in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Corteva during the 4th quarter valued at about $25,000. Scarborough Advisors LLC bought a new position in shares of Corteva during the 4th quarter valued at about $29,000. BKM Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at about $27,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CTVA shares. Wolfe Research started coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target for the company. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. reaffirmed 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. Canaccord Genuity Group increased their price target on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Corteva Trading Up 1.1 %

Shares of NYSE:CTVA traded up $0.55 during trading on Friday, reaching $52.92. 8,773,974 shares of the company were exchanged, compared to its average volume of 2,883,989. The firm has a market capitalization of $36.88 billion, a PE ratio of 66.99, a P/E/G ratio of 1.40 and a beta of 0.78. The business’s fifty day simple moving average is $54.81 and its 200-day simple moving average is $52.48. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Corteva’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.16 earnings per share. On average, research analysts anticipate that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.21%. The ex-dividend date was Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Insider Activity at Corteva

In related news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on 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 filing with the SEC, which is accessible through this link. In other news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction 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 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 SEC, which is accessible through the SEC website. Also, insider Brian Titus sold 12,134 shares of the company’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 in the company, valued at $764,491.75. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock valued at $4,795,016 over the last ninety days. 0.14% of the stock is owned by company insiders.

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.