Corteva, Inc. $CTVA Shares Sold by iSAM Funds UK Ltd

iSAM Funds UK Ltd decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 41.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,882 shares of the company’s stock after selling 9,135 shares during the quarter. iSAM Funds UK Ltd’s holdings in Corteva were worth $960,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Corteva by 0.5% in the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock valued at $5,976,436,000 after purchasing an additional 373,680 shares during the period. Geode Capital Management LLC raised its position in Corteva by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after purchasing an additional 251,693 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Corteva by 4.9% in the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after buying an additional 824,451 shares during the period. Independent Franchise Partners LLP grew its position in shares of Corteva by 1.8% during the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after buying an additional 288,792 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Corteva by 1.0% during the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after buying an additional 110,865 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent research reports. Mizuho decreased their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Rothschild & Co Redburn reduced their price objective on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Jefferies Financial Group decreased their price target on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Fifteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.05.

Corteva Price Performance

Shares of NYSE:CTVA opened at $65.85 on Wednesday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The firm has a market capitalization of $44.50 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The company’s fifty day moving average price is $64.09 and its 200 day moving average price is $69.55.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. Corteva’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.49) earnings per share. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

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.