Cooper Financial Group Boosts Position in Corteva, Inc. $CTVA

Cooper Financial Group increased its stake in Corteva, Inc. (NYSE:CTVA) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,982 shares of the company’s stock after buying an additional 1,331 shares during the period. Cooper Financial Group’s holdings in Corteva were worth $1,415,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. purchased a new position in Corteva in the 2nd quarter worth about $29,000. Valley National Advisers Inc. boosted its holdings in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after buying an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in Corteva in the 1st quarter worth approximately $37,000. von Borstel & Associates Inc. acquired a new stake in Corteva in the 1st quarter worth approximately $44,000. Finally, Horizon Financial Services LLC boosted its stake in Corteva by 4,444.4% in the 1st quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CTVA. Deutsche Bank Aktiengesellschaft raised their price target on shares of Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. KeyCorp raised their price target on shares of Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.00.

Corteva Price Performance

NYSE:CTVA opened at $67.63 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm has a market cap of $45.93 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.55 and a beta of 0.78. The company has a 50 day moving average price of $71.89 and a 200-day moving average price of $68.88. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 EPS. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio is 35.12%.

About Corteva

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.