Corteva, Inc. (NYSE:CTVA) Short Interest Down 11.0% in August

Corteva, Inc. (NYSE:CTVA) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 7,710,000 shares, a decrease of 11.0% from the August 15th total of 8,660,000 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average trading volume of 3,040,000 shares, the short-interest ratio is currently 2.5 days.

Analyst Ratings Changes

CTVA has been the topic of a number of recent analyst reports. Mizuho decreased their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Trading Up 1.4 %

Shares of CTVA traded up $0.77 during mid-day trading on Tuesday, reaching $57.04. 1,922,521 shares of the company were exchanged, compared to its average volume of 3,319,169. The business has a 50 day simple moving average of $54.21 and a two-hundred day simple moving average of $54.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market capitalization of $39.76 billion, a PE ratio of 72.25, a PEG ratio of 1.60 and a beta of 0.77. Corteva has a 52 week low of $43.22 and a 52 week high of $58.76.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same quarter last year, the business earned $1.60 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Corteva will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is 86.08%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CTVA. Mediolanum International Funds Ltd bought a new stake in Corteva in the first quarter worth approximately $2,270,000. Red Mountain Financial LLC acquired a new position in shares of Corteva during the 4th quarter valued at $862,000. California State Teachers Retirement System boosted its stake in Corteva by 15.1% during the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after acquiring an additional 181,883 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Corteva by 14.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after acquiring an additional 121,817 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Corteva in the first quarter worth $1,965,000. 81.54% of the stock is owned by institutional investors.

Corteva Company 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.