Davidson Investment Advisors Has $15.53 Million Position in Corteva, Inc. (NYSE:CTVA)

Davidson Investment Advisors cut its position in Corteva, Inc. (NYSE:CTVA) by 26.1% during the 1st quarter, HoldingsChannel reports. The firm owned 246,853 shares of the company’s stock after selling 87,367 shares during the quarter. Davidson Investment Advisors’ holdings in Corteva were worth $15,534,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sepio Capital LP grew its position 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 purchasing an additional 166 shares during the period. Allred Capital Management LLC boosted its holdings in shares of Corteva by 3.2% in the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after buying an additional 171 shares during the period. Avantax Planning Partners Inc. boosted its holdings in shares of Corteva by 4.1% in the first quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company’s stock valued at $286,000 after buying an additional 178 shares during the period. PFG Investments LLC increased its position in shares of Corteva by 1.4% during the first quarter. PFG Investments LLC now owns 12,867 shares of the company’s stock worth $810,000 after acquiring an additional 180 shares in the last quarter. Finally, Legacy Advisors LLC raised its holdings in shares of Corteva by 2.2% during the first quarter. Legacy Advisors LLC now owns 8,697 shares of the company’s stock worth $547,000 after acquiring an additional 188 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CTVA shares. Morgan Stanley upped their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Barclays boosted their price target on Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Monday, March 31st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Corteva Trading Up 0.3%

Shares of NYSE:CTVA opened at $77.24 on Monday. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $77.84. The business has a 50 day moving average of $70.10 and a 200-day moving average of $64.06. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The stock has a market cap of $52.69 billion, a PE ratio of 47.09, a P/E/G ratio of 1.97 and a beta of 0.76.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. Corteva’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.88%. Corteva’s dividend 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.