Anchor Capital Advisors LLC Sells 47,636 Shares of Corteva, Inc. (NYSE:CTVA)

Anchor Capital Advisors LLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 21.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 175,426 shares of the company’s stock after selling 47,636 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Corteva were worth $8,406,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC grew its position in shares of 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 buying an additional 213,949 shares during the period. 17 Capital Partners LLC acquired a new position in shares of Corteva in the 4th quarter valued at approximately $1,649,000. Factory Mutual Insurance Co. grew its position in shares of Corteva by 10.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after purchasing an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Corteva by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after acquiring an additional 68,593 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Corteva by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after acquiring an additional 31,171 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CTVA. Mizuho dropped their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Oppenheimer raised their price objective on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Wolfe Research assumed coverage on shares of Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.29.

Corteva Trading Down 1.1 %

NYSE:CTVA traded down $0.62 during mid-day trading on Tuesday, reaching $54.88. The company’s stock had a trading volume of 338,723 shares, compared to its average volume of 3,478,415. The company’s fifty day simple moving average is $55.29 and its two-hundred day simple moving average is $50.51. 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 twelve month low of $43.22 and a twelve month high of $61.87. The stock has a market cap of $38.35 billion, a P/E ratio of 54.41, a P/E/G ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period last year, the company earned $0.16 EPS. On average, equities analysts predict that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is currently 62.75%.

About Corteva

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.