Calamos Advisors LLC Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Calamos Advisors LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,897 shares of the company’s stock after selling 2,377 shares during the period. Calamos Advisors LLC’s holdings in Corteva were worth $8,717,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CTVA. CVA Family Office LLC acquired a new stake in Corteva in the 4th quarter valued at about $25,000. BKM Wealth Management LLC purchased a new stake in Corteva in the 4th quarter valued at approximately $27,000. NewSquare Capital LLC grew its holdings in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc grew its holdings in Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after buying an additional 389 shares during the last quarter. Finally, Cornerstone Planning Group LLC acquired a new stake in Corteva during the 2nd quarter valued at $28,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of Corteva stock opened at $54.80 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $62.10. The stock has a market capitalization of $38.30 billion, a P/E ratio of 53.73, a PEG ratio of 1.41 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average price is $55.23 and its 200 day moving average price is $50.30.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the company posted $0.16 earnings per share. As a group, research analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Ratings Changes

A number of brokerages have commented on CTVA. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and increased their target price for the company from $57.00 to $65.00 in a report on Monday, February 12th. Wells Fargo & Company increased their target price on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Friday, February 2nd. Finally, Mizuho decreased their price objective on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.29.

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.