Cambiar Investors LLC Lowers Stake in Corteva, Inc. (NYSE:CTVA)

Cambiar Investors LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 702,481 shares of the company’s stock after selling 6,525 shares during the period. Corteva comprises 1.6% of Cambiar Investors LLC’s portfolio, making the stock its 29th largest holding. Cambiar Investors LLC owned approximately 0.10% of Corteva worth $41,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in Corteva in the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC grew its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Corteva in the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva in the second quarter worth about $43,000. Finally, Triad Wealth Partners LLC bought a new position in Corteva during the second quarter valued at approximately $45,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 0.1 %

Corteva stock opened at $60.86 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $62.38. The business has a fifty day moving average of $57.79 and a two-hundred day moving average of $55.37. The firm has a market cap of $42.13 billion, a P/E ratio of 46.82, a P/E/G ratio of 1.77 and a beta of 0.77. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. On average, analysts forecast that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is currently 52.31%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CTVA shares. JPMorgan Chase & Co. cut their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.84.

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.