3Chopt Investment Partners LLC Purchases 568 Shares of Corteva, Inc. $CTVA

3Chopt Investment Partners LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,857 shares of the company’s stock after purchasing an additional 568 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Corteva were worth $437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peak Financial Advisors LLC bought a new stake in Corteva during the second quarter worth about $505,000. Cary Street Partners Financial LLC raised its stake in Corteva by 20.7% during the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after acquiring an additional 15,448 shares in the last quarter. PGGM Investments raised its stake in Corteva by 68.5% during the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Corteva by 28.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after acquiring an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its stake in Corteva by 70.3% during the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after acquiring an additional 67,869 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley set a $84.00 target price on Corteva in a research note on Monday, September 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research note on Thursday, October 2nd. Finally, BMO Capital Markets set a $86.00 price objective on Corteva in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Insider Activity

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $61.90 on Friday. The business’s 50 day simple moving average is $70.38 and its 200 day simple moving average is $68.91. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The stock has a market capitalization of $42.04 billion, a PE ratio of 30.20, a PEG ratio of 1.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio (DPR) is currently 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.