Corteva, Inc. (NYSE:CTVA) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.3% during the first quarter, HoldingsChannel reports. The fund owned 362,096 shares of the company’s stock after selling 1,151 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Corteva were worth $22,787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC purchased a new stake in Corteva in the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva in the 4th quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new stake in shares of Corteva in the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC acquired a new position in Corteva during the fourth quarter worth $31,000. Finally, J.Safra Asset Management Corp purchased a new position in Corteva in the fourth quarter worth $37,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CTVA shares. Oppenheimer restated an “outperform” rating and set a $75.00 target price (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. Morgan Stanley raised their price objective on shares of Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. Barclays lifted their price target on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company upped their price target on Corteva from $79.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.08.

Corteva Price Performance

Shares of NYSE:CTVA opened at $73.30 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The business’s fifty day moving average price is $67.98 and its two-hundred day moving average price is $63.16. The stock has a market cap of $50.00 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 1.87 and a beta of 0.75. Corteva, Inc. has a one year low of $50.30 and a one year high of $74.96.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva’s dividend payout ratio is presently 41.46%.

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.