Community Bank N.A. Sells 2,554 Shares of Corteva (NYSE:CTVA)

Community Bank N.A. decreased its stake in shares of Corteva (NYSE:CTVA) by 17.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,879 shares of the company’s stock after selling 2,554 shares during the period. Community Bank N.A.’s holdings in Corteva were worth $318,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in Corteva by 244.8% during the first quarter. Janus Henderson Group PLC now owns 1,487,893 shares of the company’s stock valued at $34,960,000 after purchasing an additional 1,056,349 shares during the last quarter. HighTower Advisors LLC grew its stake in Corteva by 1.0% in the 1st quarter. HighTower Advisors LLC now owns 62,971 shares of the company’s stock valued at $1,481,000 after buying an additional 599 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Corteva by 35.6% in the 1st quarter. Meeder Asset Management Inc. now owns 2,221 shares of the company’s stock valued at $52,000 after buying an additional 583 shares during the last quarter. Deutsche Bank AG raised its holdings in Corteva by 1.2% in the 1st quarter. Deutsche Bank AG now owns 4,823,712 shares of the company’s stock worth $113,358,000 after acquiring an additional 58,742 shares during the period. Finally, PGGM Investments bought a new stake in Corteva during the second quarter valued at about $10,502,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

CTVA stock traded up $0.08 during trading on Friday, hitting $28.56. The company had a trading volume of 7,305,092 shares, compared to its average volume of 3,212,946. The company has a fifty day moving average price of $27.38 and a two-hundred day moving average price of $26.87. Corteva has a fifty-two week low of $20.38 and a fifty-two week high of $32.78. The company has a market cap of $21.37 billion and a P/E ratio of -25.05. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.03.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.20. Corteva had a positive return on equity of 5.09% and a negative net margin of 5.91%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Corteva’s revenue was up 16.5% on a year-over-year basis. On average, analysts expect that Corteva will post 1.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.82%. The ex-dividend date is Thursday, August 13th. Corteva’s dividend payout ratio is currently 36.36%.

Several brokerages recently weighed in on CTVA. Citigroup increased their target price on Corteva from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 8th. CSFB reduced their price objective on Corteva from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. BofA Securities upgraded shares of Corteva from an “underperform” rating to a “buy” rating in a research note on Monday, July 13th. Royal Bank of Canada increased their price target on shares of Corteva from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Barclays dropped their price objective on shares of Corteva from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. Corteva has a consensus rating of “Buy” and an average target price of $30.69.

Corteva Profile

Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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