BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Stock Holdings in Corteva, Inc. $CTVA

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 19.0% during the second quarter, Holdings Channel reports. The institutional investor owned 47,135 shares of the company’s stock after selling 11,022 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Corteva were worth $3,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Moody National Bank Trust Division lifted its holdings in shares of Corteva by 0.7% in the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares in the last quarter. Ancora Advisors LLC increased its position in Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its stake in Corteva by 2.2% during the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after buying an additional 150 shares during the period. NewEdge Advisors LLC increased its position in shares of Corteva by 0.5% in the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after acquiring an additional 152 shares in the last quarter. Finally, Plancorp LLC increased its position in shares of Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

CTVA stock opened at $62.52 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The firm has a market capitalization of $42.45 billion, a PE ratio of 30.50, a P/E/G ratio of 1.42 and a beta of 0.81. The firm has a 50-day moving average of $67.06 and a two-hundred day moving average of $69.44.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the firm earned ($0.49) earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Corteva’s dividend payout ratio is currently 35.12%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus decreased their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Wolfe Research dropped their target price on shares of Corteva from $80.00 to $79.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Wall Street Zen cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Citigroup lowered shares of Corteva from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $70.00 in a research report on Thursday, October 2nd. Fifteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.65.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.