Clifford Swan Investment Counsel LLC cut its stake in Corteva, Inc. (NYSE:CTVA – Free Report) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 488,361 shares of the company’s stock after selling 13,178 shares during the period. Corteva comprises about 1.3% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 16th largest holding. Clifford Swan Investment Counsel LLC’s holdings in Corteva were worth $41,359,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. EFG International AG purchased a new position in shares of Corteva in the 2nd quarter valued at about $25,000. Compass Financial Management LLC purchased a new stake in shares of Corteva during the second quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new stake in shares of Corteva during the third quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $27,000. Finally, Bank of Jackson Hole Trust purchased a new position in Corteva in the fourth quarter worth approximately $28,000. 81.54% of the stock is owned by institutional investors and hedge funds.
Corteva Stock Up 1.0%
CTVA opened at $84.74 on Tuesday. The business’s 50-day simple moving average is $82.81 and its 200-day simple moving average is $80.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The stock has a market capitalization of $56.54 billion, a P/E ratio of 56.12, a price-to-earnings-growth ratio of 2.58 and a beta of 0.57.
Corteva Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a yield of 0.8%. Corteva’s dividend payout ratio is 47.68%.
Analysts Set New Price Targets
Several research firms have commented on CTVA. JPMorgan Chase & Co. boosted their price target on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings cut shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 target price on shares of Corteva in a research note on Monday, August 3rd. Mizuho raised their price target on Corteva from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Finally, Bank of America upped their price objective on Corteva from $90.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $91.50.
Read Our Latest Research Report on CTVA
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.
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