MidWestOne Financial Group Inc. Trims Position in Corteva, Inc. (NYSE:CTVA)

MidWestOne Financial Group Inc. cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,065 shares of the company’s stock after selling 466 shares during the period. MidWestOne Financial Group Inc.’s holdings in Corteva were worth $813,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC boosted its position in shares of Corteva by 5.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 29,334 shares of the company’s stock valued at $1,379,000 after purchasing an additional 1,506 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Corteva by 3.5% during the fourth quarter. TD Asset Management Inc now owns 434,296 shares of the company’s stock valued at $20,811,000 after purchasing an additional 14,683 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Corteva by 8.1% during the fourth quarter. Stifel Financial Corp now owns 346,599 shares of the company’s stock valued at $16,609,000 after purchasing an additional 25,852 shares in the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Corteva during the fourth quarter valued at approximately $215,000. Finally, Fiduciary Trust Co boosted its position in shares of Corteva by 12.8% during the fourth quarter. Fiduciary Trust Co now owns 9,528 shares of the company’s stock valued at $457,000 after purchasing an additional 1,078 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. KeyCorp dropped their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. Finally, Wells Fargo & Company dropped their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.94.

Corteva Trading Up 1.0 %

Shares of NYSE:CTVA opened at $58.58 on Friday. The company has a market cap of $40.83 billion, a P/E ratio of 74.15, a PEG ratio of 1.68 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. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $59.08. The stock’s fifty day moving average price is $55.02 and its 200-day moving average price is $54.88.

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

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is 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.