Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 23.1% during the first quarter, HoldingsChannel.com reports. The fund owned 11,844 shares of the company’s stock after selling 3,565 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Corteva were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Lake Street Advisors Group LLC raised its stake in shares of Corteva by 3.7% in the 4th 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 period. Sepio Capital LP raised its stake in shares of Corteva by 3.2% in the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock valued at $305,000 after acquiring an additional 166 shares during the period. Allred Capital Management LLC raised its stake in shares of Corteva by 3.2% in the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after acquiring an additional 171 shares during the period. PFG Investments LLC raised its stake in shares of Corteva by 1.4% in the 1st quarter. PFG Investments LLC now owns 12,867 shares of the company’s stock valued at $810,000 after acquiring an additional 180 shares during the period. Finally, Legacy Advisors LLC grew its holdings in Corteva by 2.2% during the 1st quarter. Legacy Advisors LLC now owns 8,697 shares of the company’s stock valued at $547,000 after purchasing an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock opened at $74.38 on Friday. The firm has a market cap of $50.74 billion, a P/E ratio of 45.35, a P/E/G ratio of 1.90 and a beta of 0.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $75.05. The firm has a fifty day moving average of $68.57 and a two-hundred day moving average of $63.37.

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

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.91%. Corteva’s payout ratio is currently 41.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTVA. UBS Group raised their price target on shares of Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, May 8th. The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target for the company. Wells Fargo & Company raised their price target on shares of Corteva from $79.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, June 23rd. Morgan Stanley raised their price target on shares of Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Barclays raised their price target on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average target price of $72.08.

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.