Community Bank of Raymore Purchases 730 Shares of Corteva, Inc. $CTVA

Community Bank of Raymore boosted its position in Corteva, Inc. (NYSE:CTVA) by 11.2% in the second quarter, Holdings Channel.com reports. The firm owned 7,256 shares of the company’s stock after buying an additional 730 shares during the quarter. Community Bank of Raymore’s holdings in Corteva were worth $541,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Peak Financial Advisors LLC bought a new position in Corteva in the second quarter worth $505,000. Cary Street Partners Financial LLC raised its holdings in Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. PGGM Investments raised its holdings in Corteva by 68.5% in the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after purchasing an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its holdings in Corteva by 70.3% in 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 purchasing an additional 67,869 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTVA. UBS Group cut their target price on Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. BMO Capital Markets set a $86.00 target price on Corteva in a research note on Monday, September 15th. Royal Bank Of Canada cut their target price on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $75.00 to $84.00 in a research note on Wednesday, August 13th. Finally, Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $80.31.

Corteva Trading Up 0.7%

Corteva stock opened at $61.45 on Monday. 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, Inc. has a one year low of $53.40 and a one year high of $77.41. The stock has a market capitalization of $41.73 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.76. The business’s fifty day moving average is $69.44 and its 200 day moving average is $68.97.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

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

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’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 transaction, the executive vice president directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Corteva 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.