Jacobs Levy Equity Management Inc. Has $3.28 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Jacobs Levy Equity Management Inc. decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 95.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,901 shares of the company’s stock after selling 1,172,513 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Corteva were worth $3,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. &PARTNERS raised its stake in shares of Corteva by 4.3% during the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares during the last quarter. Herr Investment Group LLC raised its stake in shares of Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after acquiring an additional 200 shares during the last quarter. Baxter Bros Inc. raised its stake in shares of Corteva by 1.2% during the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after acquiring an additional 215 shares during the last quarter. Albion Financial Group UT raised its stake in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after acquiring an additional 227 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 1.2 %

Shares of NYSE CTVA traded up $0.64 during mid-day trading on Wednesday, reaching $56.17. 830,458 shares of the company’s stock traded hands, compared to its average volume of 3,387,549. The stock has a market cap of $39.15 billion, a P/E ratio of 70.29, a PEG ratio of 1.50 and a beta of 0.77. The business has a 50-day simple moving average of $53.63 and a 200 day simple moving average of $53.81. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the firm earned $1.16 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. On average, analysts expect that Corteva, Inc. will post 2.78 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.21%. Corteva’s payout ratio is currently 81.01%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,556 shares of company stock valued at $4,795,016. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Canaccord Genuity Group lifted their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. BMO Capital Markets lifted their target price on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Finally, Mizuho lowered their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.