Corteva, Inc. (NYSE:CTVA) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 602,272 shares of the company’s stock after selling 51,342 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Corteva were worth $28,861,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC acquired a new stake in Corteva during the 2nd quarter worth about $28,000. CVA Family Office LLC acquired a new position in shares of Corteva in the 4th quarter valued at about $25,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Corteva in the 2nd quarter valued at about $31,000. NewSquare Capital LLC lifted its holdings in shares of Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares during the period. Finally, Glass Jacobson Investment Advisors llc lifted its holdings in shares of Corteva by 234.3% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after buying an additional 389 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTVA. Wolfe Research began coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. Royal Bank of Canada boosted their price objective on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and lifted their price target for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Price Performance

NYSE:CTVA traded up $0.84 during trading hours on Friday, hitting $54.80. 2,052,593 shares of the stock were exchanged, compared to its average volume of 3,612,203. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $62.10. The firm’s fifty day moving average price is $55.23 and its 200 day moving average price is $50.30. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a market cap of $38.30 billion, a P/E ratio of 53.73, a P/E/G ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results 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. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the previous year, the firm posted $0.16 EPS. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, February 29th. 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.