Stock Yards Bank & Trust Co. Lowers Stock Position in Corteva, Inc. (NYSE:CTVA)

Stock Yards Bank & Trust Co. cut its holdings in Corteva, Inc. (NYSE:CTVA) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,647 shares of the company’s stock after selling 520 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Corteva were worth $366,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares during the period. Northern Trust Corp raised its position in shares of Corteva by 2.7% during the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after purchasing an additional 327,321 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Corteva by 78.7% during the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after acquiring an additional 3,366,106 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after purchasing an additional 213,949 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTVA. Barclays lifted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Wolfe Research began coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price target for the company. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target for the company in a report on Friday, February 2nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, Wells Fargo & Company increased their target price on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.29.

Corteva Stock Performance

Corteva stock opened at $55.19 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.87. The company has a fifty day moving average price of $55.26 and a two-hundred day moving average price of $50.37. The company has a market cap of $38.57 billion, a PE ratio of 54.11, a P/E/G ratio of 1.45 and a beta of 0.77.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, February 29th. Corteva’s payout ratio is 62.75%.

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.