Summit Place Financial Advisors LLC Has $3.36 Million Position in Corteva, Inc. $CTVA

Summit Place Financial Advisors LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 45,033 shares of the company’s stock after selling 2,091 shares during the quarter. Corteva comprises about 1.7% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 25th largest holding. Summit Place Financial Advisors LLC’s holdings in Corteva were worth $3,356,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CTVA. Nuveen LLC acquired a new stake in shares of Corteva during the 1st quarter worth about $640,333,000. Assenagon Asset Management S.A. lifted its stake in shares of Corteva by 4,769.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after buying an additional 1,884,897 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Corteva by 54.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after buying an additional 1,769,355 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Corteva by 65.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after buying an additional 1,290,009 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Corteva by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after purchasing an additional 639,799 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

CTVA stock opened at $61.90 on Friday. The company has a 50 day simple moving average of $70.38 and a 200 day simple moving average of $68.91. The stock has a market cap of $42.04 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 1.42 and a beta of 0.76. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. 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 posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the firm posted $1.83 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal 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 given a $0.18 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s dividend payout ratio is currently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of several analyst reports. Oppenheimer set a $87.00 price objective on shares of Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Jefferies Financial Group decreased their target price on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. UBS Group decreased their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Monday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.