Anchor Capital Advisors LLC Has $8.41 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Anchor Capital Advisors LLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,426 shares of the company’s stock after selling 47,636 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Corteva were worth $8,406,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. CVA Family Office LLC bought a new position in Corteva during the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its position in shares of Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its position in shares of Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after purchasing an additional 389 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Corteva during the 4th quarter valued at $27,000. Finally, Union Savings Bank boosted its stake in Corteva by 58.5% during the third quarter. Union Savings Bank now owns 577 shares of the company’s stock worth $30,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CTVA. KeyCorp boosted their target price on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Oppenheimer lifted their price target on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a report on Friday, February 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Finally, Wells Fargo & Company raised their price target on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $63.29.

Corteva Price Performance

Shares of CTVA traded down $0.62 during mid-day trading on Tuesday, hitting $54.88. 338,723 shares of the company were exchanged, compared to its average volume of 3,478,415. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $61.87. The stock has a market cap of $38.35 billion, a price-to-earnings ratio of 54.41, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. The company has a 50 day moving average of $55.29 and a 200-day moving average of $50.51.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the company earned $0.16 EPS. Analysts expect that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio is currently 62.75%.

About Corteva

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.