Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stock Position in Corteva, Inc. $CTVA

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,011,913 shares of the company’s stock after selling 122,032 shares during the quarter. Corteva accounts for about 8.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 2nd largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Corteva were worth $75,418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Brighton Jones LLC raised its stake in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Corteva by 13.9% during the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock valued at $279,000 after purchasing an additional 536 shares during the period. GAMMA Investing LLC raised its stake in shares of Corteva by 15.0% during the 1st quarter. GAMMA Investing LLC now owns 15,061 shares of the company’s stock valued at $948,000 after purchasing an additional 1,962 shares during the period. SG Americas Securities LLC grew its position in Corteva by 268.7% during the first quarter. SG Americas Securities LLC now owns 37,800 shares of the company’s stock worth $2,379,000 after buying an additional 27,549 shares in the last quarter. Finally, CX Institutional grew its position in Corteva by 34.2% during the first quarter. CX Institutional now owns 6,123 shares of the company’s stock worth $385,000 after buying an additional 1,560 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Corteva Price Performance

CTVA opened at $61.90 on Friday. The stock has a 50-day moving average price of $70.38 and a 200-day moving average price of $68.91. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $42.04 billion, a P/E ratio of 30.20, a PEG ratio of 1.42 and a beta of 0.76.

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

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Corteva’s dividend payout ratio is presently 35.12%.

Wall Street Analyst Weigh In

Several research firms recently commented on CTVA. Deutsche Bank Aktiengesellschaft boosted their target price on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. UBS Group reduced their target price on Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. BMO Capital Markets set a $86.00 target price on Corteva in a research report on Monday, September 15th. Finally, Mizuho reduced their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.13.

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.