Corteva, Inc. (NYSE:CTVA) Stock Position Decreased by Chicago Capital LLC

Chicago Capital LLC cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 33.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,297 shares of the company’s stock after selling 2,124 shares during the period. Chicago Capital LLC’s holdings in Corteva were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the 1st quarter valued at about $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva during the 1st quarter valued at about $25,000. Albion Financial Group UT increased its holdings in shares of Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Cultivar Capital Inc. acquired a new position in shares of Corteva during the 2nd quarter valued at about $34,000. Finally, Redwood Wealth Management Group LLC acquired a new position in shares of Corteva during the 2nd quarter valued at about $43,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of NYSE:CTVA opened at $59.41 on Monday. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $59.68. The firm has a market capitalization of $41.41 billion, a PE ratio of 75.20, a PEG ratio of 1.66 and a beta of 0.77. The business’s 50 day moving average is $56.36 and its 200-day moving average is $55.06. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $1.60 EPS. Sell-side analysts predict that Corteva, Inc. will post 2.66 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. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was 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%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTVA. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Finally, Wells Fargo & Company lowered 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.21.

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.