Brandes Investment Partners LP Sells 609,739 Shares of Corteva, Inc. $CTVA

Brandes Investment Partners LP lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 20.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,335,741 shares of the company’s stock after selling 609,739 shares during the period. Corteva accounts for 1.6% of Brandes Investment Partners LP’s portfolio, making the stock its 18th largest position. Brandes Investment Partners LP’s holdings in Corteva were worth $174,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Corteva in the second quarter worth $25,000. Curat Global LLC boosted its holdings in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. Maryland Capital Advisors Inc. acquired a new stake in Corteva in the 2nd quarter worth $29,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the period. Finally, Princeton Global Asset Management LLC raised its position in shares of Corteva by 61.5% during the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Corteva stock opened at $66.57 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The company has a market capitalization of $44.99 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The business has a 50 day simple moving average of $64.40 and a 200 day simple moving average of $69.68.

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

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $76.00 target price on shares of Corteva in a research report on Friday, November 7th. Wells Fargo & Company decreased their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Morgan Stanley set a $84.00 price objective on Corteva in a research report on Monday, September 15th. Mizuho cut their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Finally, UBS Group reduced their target price on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.05.

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.