Corteva, Inc. (NYSE:CTVA) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its stake in Corteva, Inc. (NYSE:CTVA) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,825 shares of the company’s stock after selling 350 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Corteva were worth $460,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the first quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new position in Corteva in the 1st quarter valued at $25,000. Albion Financial Group UT boosted its stake in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Corteva during the second quarter worth $34,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in shares of Corteva during the second quarter worth $43,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTVA. JPMorgan Chase & Co. dropped their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. KeyCorp dropped their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and upped their target price for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.21.

Corteva Trading Up 0.8 %

Shares of CTVA stock opened at $59.41 on Monday. 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 firm has a market cap of $41.41 billion, a PE ratio of 75.20, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The company has a 50-day moving average of $56.36 and a two-hundred day moving average of $55.06. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $59.68.

Corteva (NYSE:CTVA) last announced its earnings results 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 during the quarter, compared to analyst estimates of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. Corteva’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. On average, analysts predict that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is currently 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.