Corteva, Inc. (NYSE:CTVA) Shares Sold by Proffitt & Goodson Inc.

Proffitt & Goodson Inc. reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,869 shares of the company’s stock after selling 270 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Corteva were worth $495,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sepio Capital LP increased its stake in Corteva by 3.2% in the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock valued at $305,000 after purchasing an additional 166 shares during the last quarter. Allred Capital Management LLC increased its stake in Corteva by 3.2% in the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after purchasing an additional 171 shares during the last quarter. Avantax Planning Partners Inc. increased its stake in Corteva by 4.1% in the first quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company’s stock valued at $286,000 after purchasing an additional 178 shares during the last quarter. PFG Investments LLC increased its stake in Corteva by 1.4% in the first quarter. PFG Investments LLC now owns 12,867 shares of the company’s stock valued at $810,000 after purchasing an additional 180 shares during the last quarter. Finally, Legacy Advisors LLC increased its stake in Corteva by 2.2% during the first quarter. Legacy Advisors LLC now owns 8,697 shares of the company’s stock worth $547,000 after acquiring an additional 188 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Oppenheimer restated an “outperform” rating and set a $75.00 price target (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Barclays upped their price target on Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. UBS Group upped their price target on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Corteva Price Performance

Shares of NYSE CTVA opened at $77.24 on Friday. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $77.41. The business has a 50-day moving average of $70.10 and a 200-day moving average of $64.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The company has a market capitalization of $52.69 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 1.97 and a beta of 0.76.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. Corteva’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva’s dividend payout ratio is currently 41.46%.

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.