Crestwood Advisors Group LLC Has $241,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Crestwood Advisors Group LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 7.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,466 shares of the company’s stock after selling 385 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Corteva were worth $241,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CTVA. International Assets Investment Management LLC bought a new stake in shares of Corteva during the fourth quarter valued at approximately $4,852,000. Fisher Asset Management LLC grew its position in Corteva by 46.1% in the 4th quarter. Fisher Asset Management LLC now owns 9,856 shares of the company’s stock valued at $472,000 after purchasing an additional 3,111 shares during the period. National Bank of Canada FI increased its stake in Corteva by 2.6% during the 4th quarter. National Bank of Canada FI now owns 187,242 shares of the company’s stock valued at $9,092,000 after purchasing an additional 4,691 shares in the last quarter. Spire Wealth Management increased its stake in Corteva by 6.3% during the 4th quarter. Spire Wealth Management now owns 8,590 shares of the company’s stock valued at $392,000 after purchasing an additional 509 shares in the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in Corteva during the fourth quarter worth $234,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA stock opened at $55.58 on Wednesday. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76. The firm has a 50-day moving average of $53.72 and a 200-day moving average of $54.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $38.74 billion, a P/E ratio of 70.35, a P/E/G ratio of 1.65 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter last year, the company posted $1.60 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Corteva, Inc. will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 86.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Mizuho lowered their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $61.67.

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.