Corteva, Inc. (NYSE:CTVA) Shares Sold by Gabelli Funds LLC

Posted by on Jun 11th, 2023

Gabelli Funds LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,136 shares of the company’s stock after selling 5,500 shares during the period. Gabelli Funds LLC’s holdings in Corteva were worth $2,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Column Capital Advisors LLC lifted its stake in Corteva by 100.0% during the fourth quarter. Column Capital Advisors LLC now owns 426 shares of the company’s stock valued at $25,000 after purchasing an additional 213 shares during the last quarter. Legacy Bridge LLC raised its holdings in shares of Corteva by 73.9% during the fourth quarter. Legacy Bridge LLC now owns 433 shares of the company’s stock valued at $25,000 after acquiring an additional 184 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Corteva during the fourth quarter valued at approximately $25,000. AXS Investments LLC acquired a new stake in shares of Corteva during the fourth quarter valued at approximately $27,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Corteva by 82.8% during the fourth quarter. Beacon Capital Management LLC now owns 468 shares of the company’s stock valued at $28,000 after acquiring an additional 212 shares during the period. 79.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CTVA shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Corteva from $75.00 to $68.00 in a report on Monday, May 8th. Barclays cut their price target on shares of Corteva from $75.00 to $70.00 in a report on Thursday, June 1st. Mizuho cut their price target on shares of Corteva from $78.00 to $76.00 in a report on Friday, May 5th. VNET Group reiterated an “upgrade” rating on shares of Corteva in a research note on Monday, May 22nd. Finally, Vertical Research raised shares of Corteva from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Monday, May 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.44.

Corteva Stock Performance

Shares of NYSE CTVA opened at $56.44 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.89 and a current ratio of 1.39. The firm has a market cap of $40.12 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 1.29 and a beta of 0.79. The business’s 50-day simple moving average is $58.59 and its 200-day simple moving average is $60.45. Corteva, Inc. has a 52 week low of $50.03 and a 52 week high of $68.43.

Corteva (NYSE:CTVA – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.23. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.74 billion. Corteva had a return on equity of 8.03% and a net margin of 6.64%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS. As a group, equities research analysts expect that Corteva, Inc. will post 2.99 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.60 annualized dividend and a yield of 1.06%. Corteva’s payout ratio is 37.04%.

Corteva Profile

(Get Rating)

Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.

See Also

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.