Toronto Dominion Bank Sells 51,886 Shares of Corteva, Inc. (NYSE:CTVA)

Toronto Dominion Bank reduced its position in Corteva, Inc. (NYSE:CTVA) by 13.0% during the second quarter, Holdings Channel.com reports. The firm owned 346,936 shares of the company’s stock after selling 51,886 shares during the quarter. Toronto Dominion Bank’s holdings in Corteva were worth $18,714,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital International Investors raised its stake in shares of Corteva by 2.6% in 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 last quarter. Northern Trust Corp raised its position in Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after buying an additional 310,012 shares during the last quarter. Van ECK Associates Corp lifted its stake in Corteva by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after acquiring an additional 617,030 shares in the last quarter. Harris Associates L P boosted its holdings in Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after acquiring an additional 4,194,981 shares during the last quarter. Finally, Putnam Investments LLC grew its stake 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 worth $428,902,000 after acquiring an additional 1,021,733 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday. Mizuho cut their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Finally, KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.94.

Corteva Stock Performance

NYSE CTVA opened at $58.02 on Friday. The company’s 50 day moving average is $54.89 and its 200-day moving average is $54.84. The firm has a market cap of $40.44 billion, a P/E ratio of 73.44, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.92. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 earnings per share. Sell-side analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is presently 86.08%.

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.