ZWJ Investment Counsel Inc. Has $28.86 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

ZWJ Investment Counsel Inc. reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,272 shares of the company’s stock after selling 51,342 shares during the quarter. ZWJ Investment Counsel Inc. owned 0.09% of Corteva worth $28,861,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CTVA. Wetzel Investment Advisors Inc. bought a new stake in Corteva in the 4th quarter valued at $115,000. Naples Money Management LLC bought a new stake in shares of Corteva in the 4th quarter worth about $31,000. Xponance Inc. grew its holdings in shares of Corteva by 3.8% in the 4th quarter. Xponance Inc. now owns 90,297 shares of the company’s stock worth $4,327,000 after purchasing an additional 3,284 shares during the last quarter. Goodman Advisory Group LLC grew its holdings in shares of Corteva by 3.8% in the 4th quarter. Goodman Advisory Group LLC now owns 39,616 shares of the company’s stock worth $1,898,000 after purchasing an additional 1,447 shares during the last quarter. Finally, Keene & Associates Inc. grew its holdings in shares of Corteva by 20.6% in the 4th quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock worth $662,000 after purchasing an additional 2,358 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 1.6 %

Shares of NYSE:CTVA traded up $0.84 during midday trading on Friday, hitting $54.80. The stock had a trading volume of 2,052,593 shares, compared to its average volume of 3,612,203. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $62.10. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $55.23 and its 200-day simple moving average is $50.30. The company has a market cap of $38.30 billion, a P/E ratio of 53.73, a PEG ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the business earned $0.16 earnings per share. On average, sell-side analysts forecast that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio is 62.75%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Mizuho lowered their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. KeyCorp increased their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wells Fargo & Company increased their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Wolfe Research began coverage on shares of Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.29.

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.