Pinnacle Bancorp Inc. Has $42,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Pinnacle Bancorp Inc. cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 21.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 662 shares of the company’s stock after selling 176 shares during the period. Pinnacle Bancorp Inc.’s holdings in Corteva were worth $42,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CTVA. Vanguard Group Inc. increased its holdings in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after buying an additional 646,459 shares during the period. Independent Franchise Partners LLP boosted its position in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock valued at $939,641,000 after acquiring an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. increased its stake in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after acquiring an additional 1,354,418 shares during the period. Capital World Investors raised its position in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp raised its position in Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock worth $663,521,000 after purchasing an additional 608,898 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 0.0%

Shares of NYSE:CTVA opened at $73.30 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The firm has a market cap of $50.00 billion, a P/E ratio of 44.70, a P/E/G ratio of 1.87 and a beta of 0.75. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $74.96. The company’s 50-day moving average price is $67.98 and its two-hundred day moving average price is $63.16.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the prior year, the business earned $0.89 earnings per share. Corteva’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.93%. Corteva’s dividend payout ratio (DPR) is currently 41.46%.

Wall Street Analyst Weigh In

CTVA has been the topic of several analyst reports. KeyCorp upped their price objective on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price objective for the company. Morgan Stanley boosted their target price on shares of Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Barclays increased their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.08.

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.