MCF Advisors LLC Trims Stock Position in Corteva, Inc. (NYSE:CTVA)

MCF Advisors LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 16.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,632 shares of the company’s stock after selling 332 shares during the quarter. MCF Advisors LLC’s holdings in Corteva were worth $78,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after buying an additional 1,941,323 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Corteva by 2.7% in the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after acquiring an additional 327,321 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Corteva by 29.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the period. Van ECK Associates Corp lifted its stake in shares of Corteva by 78.7% in the 3rd quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after acquiring an additional 3,366,106 shares during the period. Finally, WCM Investment Management LLC lifted its stake in shares of Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTVA shares. KeyCorp raised their target price on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Wells Fargo & Company increased their price target on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Oppenheimer lifted their price target on shares of Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Finally, UBS Group lowered their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $63.29.

Corteva Price Performance

CTVA opened at $55.20 on Tuesday. The stock has a market capitalization of $38.58 billion, a PE ratio of 54.12, a P/E/G ratio of 1.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $61.87. The company’s 50 day simple moving average is $55.23 and its 200 day simple moving average is $50.33.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The firm 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 period in the previous year, the company posted $0.16 earnings per share. As a group, sell-side analysts expect that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. Corteva’s dividend payout ratio (DPR) is 62.75%.

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.