Corteva, Inc. $CTVA Shares Bought by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC lifted its stake in Corteva, Inc. (NYSE:CTVA) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,932 shares of the company’s stock after acquiring an additional 282 shares during the period. Corteva accounts for approximately 1.8% of Strengthening Families & Communities LLC’s holdings, making the stock its 16th biggest position. Strengthening Families & Communities LLC’s holdings in Corteva were worth $3,331,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Strong Tower Advisory Services lifted its stake in Corteva by 4.6% during the second quarter. Strong Tower Advisory Services now owns 42,148 shares of the company’s stock valued at $3,141,000 after purchasing an additional 1,840 shares during the last quarter. PDS Planning Inc acquired a new stake in Corteva during the second quarter valued at approximately $213,000. Wealthstar Advisors LLC acquired a new stake in Corteva during the second quarter valued at approximately $1,664,000. 3Chopt Investment Partners LLC lifted its stake in Corteva by 10.7% during the second quarter. 3Chopt Investment Partners LLC now owns 5,857 shares of the company’s stock valued at $437,000 after purchasing an additional 568 shares during the last quarter. Finally, Horizon Bancorp Inc. IN lifted its stake in Corteva by 27.2% during the second quarter. Horizon Bancorp Inc. IN now owns 4,670 shares of the company’s stock valued at $348,000 after purchasing an additional 1,000 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CTVA. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Mizuho cut their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday. Citigroup downgraded shares of Corteva from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $70.00 in a research report on Thursday, October 2nd. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

Corteva Stock Down 1.4%

Corteva stock opened at $61.90 on Friday. The firm has a market cap of $42.04 billion, a PE ratio of 30.20, a P/E/G ratio of 1.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The firm’s 50 day moving average price is $70.38 and its two-hundred day moving average price is $68.91. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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 for 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 company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS. On average, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.18 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.2%. This is a boost from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

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.