Obermeyer Wood Investment Counsel Lllp Sells 2,332 Shares of Corteva, Inc. (NYSE:CTVA)

Obermeyer Wood Investment Counsel Lllp lowered its stake in Corteva, Inc. (NYSE:CTVA) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,270 shares of the company’s stock after selling 2,332 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Corteva were worth $1,307,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CTVA. Cornerstone Planning Group LLC bought a new position in Corteva during the 2nd quarter worth about $28,000. CVA Family Office LLC bought a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Corteva during the 2nd quarter worth approximately $31,000. NewSquare Capital LLC increased its holdings in shares of Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc increased its holdings in shares of Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CTVA shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Royal Bank of Canada raised their target price on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Oppenheimer raised their target price on Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group decreased their target price on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Finally, KeyCorp raised their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Trading Up 0.8 %

NYSE CTVA traded up $0.43 during trading hours on Thursday, hitting $53.96. 1,614,887 shares of the company were exchanged, compared to its average volume of 3,632,999. The stock has a 50-day moving average price of $55.19 and a 200 day moving average price of $50.24. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $62.97. The stock has a market cap of $37.71 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping 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 analysts’ expectations of $3.54 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. Analysts forecast that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. Corteva’s dividend payout ratio is 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.