Stock Yards Bank & Trust Co. Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

Stock Yards Bank & Trust Co. reduced its position in Corteva, Inc. (NYSE:CTVA) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,647 shares of the company’s stock after selling 520 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Corteva were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CTVA. Vanguard Group Inc. boosted its stake in Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares during the last quarter. Northern Trust Corp raised its position in shares of Corteva by 2.7% during the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock valued at $639,796,000 after acquiring an additional 327,321 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Corteva by 29.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after purchasing an additional 2,545,570 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after purchasing an additional 3,366,106 shares during the period. Finally, WCM Investment Management LLC increased its stake in Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after purchasing an additional 213,949 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of Corteva stock opened at $55.19 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $61.87. The company has a market cap of $38.57 billion, a PE ratio of 54.11, a P/E/G ratio of 1.45 and a beta of 0.77. The business has a 50 day moving average of $55.26 and a 200 day moving average of $50.37.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is currently 62.75%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group dropped their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. KeyCorp increased their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wolfe Research began coverage on shares of Corteva in a research note on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. Barclays raised their price target on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

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.