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

Toronto Dominion Bank decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 324,523 shares of the company’s stock after selling 25,073 shares during the quarter. Toronto Dominion Bank’s holdings in Corteva were worth $18,485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTVA. Capital World Investors lifted its holdings in shares of Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after purchasing an additional 12,381,436 shares during the period. Independent Franchise Partners LLP lifted its holdings in shares of Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the period. Norges Bank acquired a new stake in shares of Corteva during the fourth quarter worth about $251,892,000. Raymond James Financial Inc. acquired a new stake in shares of Corteva during the fourth quarter worth about $161,052,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 1.9%

Shares of CTVA stock opened at $70.39 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market cap of $48.02 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 1.68 and a beta of 0.72. The stock has a 50 day simple moving average of $62.79 and a 200-day simple moving average of $61.40. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $71.70.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. 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 previous year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, June 2nd. Corteva’s payout ratio is 41.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Monday, March 31st. Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. KeyCorp boosted their price target on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.