Bank of New York Mellon Corp Sells 175,383 Shares of Corteva, Inc. $CTVA

Bank of New York Mellon Corp lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,081,462 shares of the company’s stock after selling 175,383 shares during the period. Bank of New York Mellon Corp’s holdings in Corteva were worth $343,659,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Corteva in the second quarter worth about $25,000. True Wealth Design LLC raised its stake in shares of Corteva by 209.5% in the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. Total Investment Management Inc. acquired a new stake in Corteva in the 2nd quarter worth approximately $27,000. Curat Global LLC boosted its position in Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Corteva during the second quarter valued at approximately $29,000. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CTVA. Jefferies Financial Group lowered their target price on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Bank of America raised their price target on Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada dropped their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Finally, UBS Group lowered their target price on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $79.58.

Corteva Price Performance

Shares of CTVA stock opened at $73.89 on Friday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a market capitalization of $49.93 billion, a P/E ratio of 31.58, a P/E/G ratio of 1.86 and a beta of 0.74. The stock has a 50 day moving average of $67.96 and a two-hundred day moving average of $68.40. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.Corteva’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.49) earnings per share. As a group, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.