Derbend Asset Management Lowers Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Derbend Asset Management reduced its stake in Corteva, Inc. (NYSE:CTVA) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,251 shares of the company’s stock after selling 321 shares during the quarter. Derbend Asset Management’s holdings in Corteva were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $27,000. NewSquare Capital LLC raised its stake in Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares in the last quarter. Finally, Cornerstone Planning Group LLC purchased a new position in shares of Corteva during the second quarter worth approximately $28,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Up 0.4 %

NYSE:CTVA traded up $0.24 during trading hours on Wednesday, hitting $57.41. The company had a trading volume of 3,025,157 shares, compared to its average volume of 3,816,772. The company has a market capitalization of $40.12 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77. The stock has a 50-day moving average price of $53.68 and a 200 day moving average price of $49.89. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $63.37. 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 (NYSE:CTVA) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, equities research analysts predict that Corteva, Inc. will post 2.87 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

Several research analysts have commented on CTVA shares. Wolfe Research started coverage on shares of Corteva in a research note on Friday, March 1st. They set an “outperform” rating and a $67.00 price target on the stock. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Oppenheimer lifted their price target on shares of Corteva from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research note on Friday, February 2nd. Finally, TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $63.14.

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.