Corteva, Inc. (NYSE:CTVA) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New cut its holdings in Corteva, Inc. (NYSE:CTVA) by 4.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,136 shares of the company’s stock after selling 302 shares during the period. Cigna Investments Inc. New’s holdings in Corteva were worth $420,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CTVA. Capital Advisors Ltd. LLC raised its stake in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. Pinnacle Bancorp Inc. lifted its stake in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after purchasing an additional 199 shares in the last quarter. Herr Investment Group LLC grew its stake in shares of Corteva by 2.8% in the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after buying an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in shares of Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after buying an additional 203 shares during the period. Finally, Westhampton Capital LLC lifted its stake in Corteva by 2.5% during the 3rd quarter. Westhampton Capital LLC now owns 8,641 shares of the company’s stock worth $508,000 after acquiring an additional 213 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Citigroup assumed coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target for the company. KeyCorp cut their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and upped their price target for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.84.

Corteva Stock Performance

Shares of CTVA stock opened at $60.86 on Friday. The stock’s 50-day moving average is $57.79 and its two-hundred day moving average is $55.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $62.38. The firm has a market cap of $42.13 billion, a price-to-earnings ratio of 46.82, a PEG ratio of 1.77 and a beta of 0.77.

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

Corteva Announces Dividend

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

Corteva 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.