Primecap Management Co. CA Sells 16,794 Shares of Corteva, Inc. (NYSE:CTVA)

Primecap Management Co. CA lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,586,370 shares of the company’s stock after selling 16,794 shares during the quarter. Primecap Management Co. CA owned 0.23% of Corteva worth $85,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mediolanum International Funds Ltd acquired a new stake in shares of Corteva during the first quarter worth approximately $2,270,000. Red Mountain Financial LLC acquired a new stake in shares of Corteva during the fourth quarter worth approximately $862,000. California State Teachers Retirement System increased its holdings in shares of Corteva by 15.1% during the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after buying an additional 181,883 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Corteva by 14.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after buying an additional 121,817 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Corteva during the first quarter worth approximately $1,965,000. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTVA shares. Mizuho dropped their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. KeyCorp lowered their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Trading Up 1.4 %

Shares of NYSE CTVA opened at $57.04 on Wednesday. The company’s fifty day moving average is $54.34 and its 200-day moving average is $54.69. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 72.20, a P/E/G ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.60 earnings per share. Equities research analysts predict that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

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.