M&T Bank Corp Sells 18,783 Shares of Corteva, Inc. (NYSE:CTVA)

M&T Bank Corp trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,110,915 shares of the company’s stock after selling 18,783 shares during the period. M&T Bank Corp owned about 0.30% of Corteva worth $101,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Xponance Inc. lifted its stake in Corteva by 3.3% in the third quarter. Xponance Inc. now owns 87,013 shares of the company’s stock valued at $4,452,000 after buying an additional 2,770 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Corteva by 14.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,791 shares of the company’s stock worth $603,000 after purchasing an additional 1,506 shares during the period. Hanson & Doremus Investment Management increased its holdings in Corteva by 108.1% during the 3rd quarter. Hanson & Doremus Investment Management now owns 843 shares of the company’s stock worth $43,000 after purchasing an additional 438 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Corteva by 9.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,932,869 shares of the company’s stock valued at $354,686,000 after purchasing an additional 585,063 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Corteva by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 344,500 shares of the company’s stock worth $17,625,000 after buying an additional 5,100 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Royal Bank of Canada boosted their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Barclays increased their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Mizuho boosted their price target on shares of Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp raised their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Company upped their target price on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $63.38.

Corteva Stock Performance

CTVA traded up $0.18 on Friday, reaching $57.16. The company had a trading volume of 2,977,563 shares, compared to its average volume of 2,761,026. The company’s fifty day moving average is $55.37 and its 200 day moving average is $50.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.51. The stock has a market cap of $39.95 billion, a P/E ratio of 72.35, a P/E/G ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $60.57.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the business earned $1.16 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

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.