Corteva, Inc. (NYSE:CTVA) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 7.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 324,523 shares of the company’s stock after selling 25,073 shares during the period. Toronto Dominion Bank’s holdings in Corteva were worth $18,485,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its stake in shares of Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after buying an additional 157 shares during the last quarter. Beacon Capital Management LLC raised its position in Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after acquiring an additional 158 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after acquiring an additional 160 shares during the last quarter. Finally, Sepio Capital LP grew its position in Corteva by 3.2% in the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock worth $305,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTVA. Bank of America raised their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays increased their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Morgan Stanley boosted their price target on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Wells Fargo & Company upped their price target on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Finally, BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

Corteva Stock Up 0.3%

CTVA opened at $68.80 on Tuesday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $69.28. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $46.93 billion, a price-to-earnings ratio of 53.33, a P/E/G ratio of 1.68 and a beta of 0.72. The business has a 50 day moving average of $61.81 and a 200-day moving average of $61.04.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the prior year, the company earned $0.89 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, June 2nd. Corteva’s payout ratio is presently 41.46%.

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.