Caprock Group LLC Has $536,000 Position in Corteva, Inc. (NYSE:CTVA)

Caprock Group LLC lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 44.5% in the second quarter, Holdings Channel.com reports. The fund owned 9,931 shares of the company’s stock after selling 7,961 shares during the quarter. Caprock Group LLC’s holdings in Corteva were worth $536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Capital International Investors grew its stake in shares of Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after purchasing an additional 678,722 shares during the period. Northern Trust Corp boosted its holdings in Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after buying an additional 310,012 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Corteva by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after buying an additional 617,030 shares during the period. Harris Associates L P increased its stake in shares of Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after acquiring an additional 4,194,981 shares during the last quarter. Finally, Putnam Investments LLC raised its position in shares of Corteva by 12.9% in the 4th quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock valued at $428,902,000 after acquiring an additional 1,021,733 shares during the period. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTVA. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. OTR Global restated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. cut their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Price Performance

Shares of NYSE CTVA opened at $55.15 on Thursday. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The stock has a market capitalization of $38.18 billion, a price-to-earnings ratio of 69.81, a PEG ratio of 1.59 and a beta of 0.77. 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 business has a 50-day moving average of $53.97 and a 200-day moving average of $54.63.

Corteva (NYSE:CTVA) last posted its quarterly 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. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the company earned $1.60 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Corteva, Inc. will post 2.72 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, September 3rd. Corteva’s dividend payout ratio is 86.08%.

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.