Corteva, Inc. $CTVA Stake Boosted by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,227 shares of the company’s stock after acquiring an additional 190 shares during the period. Cullen Frost Bankers Inc.’s holdings in Corteva were worth $464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Whittier Trust Co. grew its holdings in shares of Corteva by 1.3% during the 2nd quarter. Whittier Trust Co. now owns 24,094 shares of the company’s stock valued at $1,796,000 after acquiring an additional 302 shares in the last quarter. Probity Advisors Inc. grew its holdings in shares of Corteva by 3.3% during the 2nd quarter. Probity Advisors Inc. now owns 9,025 shares of the company’s stock valued at $673,000 after acquiring an additional 289 shares in the last quarter. Phoenix Financial Ltd. purchased a new position in shares of Corteva during the 2nd quarter valued at $258,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Corteva by 7.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 142,530 shares of the company’s stock valued at $10,521,000 after acquiring an additional 10,168 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in shares of Corteva by 61.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTVA. Argus reduced their price objective on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Mizuho reduced their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Jefferies Financial Group reduced their price objective on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Finally, BMO Capital Markets set a $86.00 price objective on shares of Corteva in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.94.

Corteva Stock Up 0.2%

Corteva stock opened at $63.63 on Friday. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 1.45 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, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm has a fifty day moving average price of $68.53 and a two-hundred day moving average price of $69.04.

Corteva (NYSE:CTVA) last released 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. The firm had revenue of $6.46 billion during 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 business’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 EPS. As a group, analysts forecast that Corteva, Inc. will post 2.96 earnings per share 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 dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s 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 completion of the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.