Estabrook Capital Management Reduces Stake in Corteva, Inc. (NYSE:CTVA)

Estabrook Capital Management reduced its position in Corteva, Inc. (NYSE:CTVAFree Report) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,000 shares of the company’s stock after selling 1,116 shares during the period. Estabrook Capital Management’s holdings in Corteva were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC bought a new position in Corteva in the 4th quarter worth $25,000. BKM Wealth Management LLC bought a new position in Corteva in the 4th quarter worth $27,000. Naples Money Management LLC bought a new position in Corteva in the 4th quarter worth $31,000. Criterion Capital Advisors LLC bought a new position in Corteva in the 4th quarter worth $32,000. Finally, Private Wealth Management Group LLC bought a new stake in Corteva during the fourth quarter valued at about $33,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Oppenheimer lifted their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Wolfe Research assumed coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target for the company. Barclays lifted their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. KeyCorp lifted their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company boosted their target price on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.05.

View Our Latest Analysis on CTVA

Corteva Stock Performance

Shares of CTVA traded down $0.69 during trading hours on Monday, reaching $55.25. 1,082,111 shares of the company traded hands, compared to its average volume of 3,538,882. The stock has a market capitalization of $38.51 billion, a P/E ratio of 70.48, a P/E/G ratio of 1.48 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.81. The business has a fifty day moving average price of $56.06 and a 200-day moving average price of $51.82.

Corteva (NYSE:CTVAGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. Equities analysts anticipate that Corteva, Inc. will post 2.82 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Insider Buying and Selling at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.20% of the stock is owned by insiders.

About Corteva

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVAFree Report).

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.