J. Safra Sarasin Holding AG Sells 8,568 Shares of Corteva, Inc. $CTVA

J. Safra Sarasin Holding AG cut its holdings in Corteva, Inc. (NYSE:CTVA) by 44.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,795 shares of the company’s stock after selling 8,568 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Corteva were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after acquiring an additional 11,760 shares during the period. Woodline Partners LP increased its position in Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after purchasing an additional 16,644 shares during the period. HB Wealth Management LLC lifted its position in shares of Corteva by 3.0% in the 2nd quarter. HB Wealth Management LLC now owns 19,030 shares of the company’s stock worth $1,418,000 after purchasing an additional 550 shares during the period. Capital Investment Advisors LLC lifted its position in shares of Corteva by 33.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 8,090 shares of the company’s stock worth $603,000 after purchasing an additional 2,033 shares during the period. Finally, SOA Wealth Advisors LLC. boosted its stake in shares of Corteva by 622.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 737 shares of the company’s stock valued at $55,000 after purchasing an additional 635 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $73.89 on Friday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm’s 50-day moving average is $67.96 and its 200 day moving average is $68.40. The stock has a market cap of $49.93 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 1.86 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.

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

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is 30.77%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CTVA shares. UBS Group lowered their price objective on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Oppenheimer lifted their price target on Corteva from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday. Rothschild & Co Redburn decreased their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Jefferies Financial Group lowered their price objective on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.58.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.