First Hawaiian Bank Sells 628 Shares of Corteva (NYSE:CTVA)

First Hawaiian Bank trimmed its position in shares of Corteva (NYSE:CTVA) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,583 shares of the company’s stock after selling 628 shares during the period. First Hawaiian Bank’s holdings in Corteva were worth $578,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Aristotle Capital Management LLC raised its stake in Corteva by 80.1% in the first quarter. Aristotle Capital Management LLC now owns 24,927,669 shares of the company’s stock worth $585,800,000 after buying an additional 11,086,514 shares in the last quarter. Van ECK Associates Corp raised its stake in Corteva by 35.1% in the first quarter. Van ECK Associates Corp now owns 4,762,413 shares of the company’s stock worth $111,916,000 after buying an additional 1,237,454 shares in the last quarter. Janus Henderson Group PLC raised its stake in Corteva by 244.8% in the first quarter. Janus Henderson Group PLC now owns 1,487,893 shares of the company’s stock worth $34,960,000 after buying an additional 1,056,349 shares in the last quarter. Principal Financial Group Inc. raised its stake in Corteva by 28.8% in the first quarter. Principal Financial Group Inc. now owns 4,096,704 shares of the company’s stock worth $96,273,000 after buying an additional 916,712 shares in the last quarter. Finally, Factory Mutual Insurance Co. raised its stake in Corteva by 44.4% in the first quarter. Factory Mutual Insurance Co. now owns 2,267,117 shares of the company’s stock worth $53,278,000 after buying an additional 697,501 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on CTVA shares. Bank of America downgraded shares of Corteva from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $28.00 in a research note on Monday, August 10th. Monness Crespi & Hardt downgraded shares of Corteva from a “neutral” rating to a “sell” rating and set a $24.00 target price for the company. in a research note on Monday, June 8th. Cleveland Research started coverage on shares of Corteva in a research note on Friday, June 26th. They set a “neutral” rating for the company. CSFB decreased their target price on shares of Corteva from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Finally, Deutsche Bank decreased their target price on shares of Corteva from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. Corteva presently has a consensus rating of “Hold” and an average target price of $30.42.

In other Corteva news, EVP Rajan Gajaria purchased 2,010 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $25.20 per share, for a total transaction of $50,652.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Cornel B. Fuerer purchased 2,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $25.01 per share, for a total transaction of $50,020.00. The disclosure for this purchase can be found here. Insiders have bought a total of 9,010 shares of company stock worth $227,172 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Shares of CTVA stock opened at $27.87 on Friday. Corteva has a 12-month low of $20.38 and a 12-month high of $32.08. The company has a current ratio of 1.92, a quick ratio of 1.44 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $27.29 and its 200 day moving average is $26.78. The stock has a market capitalization of $20.15 billion, a P/E ratio of 40.99, a P/E/G ratio of 1.98 and a beta of 0.93.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.06. Corteva had a net margin of 3.68% and a return on equity of 4.67%. As a group, equities analysts predict that Corteva will post 1.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, August 13th. Corteva’s dividend payout ratio is presently 36.36%.

About Corteva

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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