Capital Asset Advisory Services LLC Lowers Stock Position in Corteva, Inc. (NYSE:CTVA)

Capital Asset Advisory Services LLC reduced its position in Corteva, Inc. (NYSE:CTVA) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,286 shares of the company’s stock after selling 702 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Corteva were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in Corteva during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the 4th quarter valued at $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the 4th quarter worth $27,000. Pinney & Scofield Inc. purchased a new stake in Corteva during the 4th quarter worth $27,000. Finally, LGT Financial Advisors LLC acquired a new stake in Corteva in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Monday, March 31st. Oppenheimer reissued an “outperform” rating and set a $75.00 price target (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. KeyCorp increased their price objective on shares of Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Royal Bank of Canada lifted their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. 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 currently has an average rating of “Moderate Buy” and an average price target of $70.50.

Corteva Trading Up 0.4%

NYSE:CTVA opened at $71.23 on Wednesday. The company has a market cap of $48.59 billion, a PE ratio of 55.22, a P/E/G ratio of 1.68 and a beta of 0.72. The business’s 50 day moving average is $63.63 and its two-hundred day moving average is $61.87. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $71.31.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.89 earnings per share. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. Corteva’s dividend payout ratio is 41.46%.

Corteva 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.