Corteva, Inc. (NYSE:CTVA) Position Reduced by Beaton Management Co. Inc.

Beaton Management Co. Inc. cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 43.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,390 shares of the company’s stock after selling 2,594 shares during the quarter. Beaton Management Co. Inc.’s holdings in Corteva were worth $162,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $25,000. NewSquare Capital LLC lifted its position in shares of Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after purchasing an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its position in shares of Corteva by 234.3% in the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after purchasing an additional 389 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $27,000. Finally, Naples Money Management LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $31,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Corteva from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Canaccord Genuity Group increased their price objective on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a report on Friday, February 2nd. Finally, Wolfe Research assumed coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective on the stock. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.24.

Insider Buying and Selling

In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock valued at $4,795,016 over the last ninety days. 0.20% of the stock is owned by company insiders.

Corteva Stock Performance

Shares of Corteva stock traded up $0.33 during midday trading on Wednesday, hitting $56.98. The company had a trading volume of 2,955,082 shares, compared to its average volume of 3,598,372. The business’s 50 day simple moving average is $56.00 and its two-hundred day simple moving average is $51.33. The stock has a market cap of $39.71 billion, a PE ratio of 71.96, a P/E/G ratio of 1.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. As a group, equities analysts predict that Corteva, Inc. will post 2.82 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.12%. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

Corteva Company 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.