D.A. Davidson & CO. Has $3.98 Million Position in Corteva, Inc. $CTVA

D.A. Davidson & CO. lessened its stake in Corteva, Inc. (NYSE:CTVA) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,409 shares of the company’s stock after selling 984 shares during the period. D.A. Davidson & CO.’s holdings in Corteva were worth $3,981,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Cullen Frost Bankers Inc. lifted its stake in shares of Corteva by 3.1% in the second quarter. Cullen Frost Bankers Inc. now owns 6,227 shares of the company’s stock valued at $464,000 after buying an additional 190 shares during the period. Whittier Trust Co. lifted its stake in shares of Corteva by 1.3% in the second quarter. Whittier Trust Co. now owns 24,094 shares of the company’s stock valued at $1,796,000 after buying an additional 302 shares during the period. Probity Advisors Inc. lifted its stake in shares of Corteva by 3.3% in the second quarter. Probity Advisors Inc. now owns 9,025 shares of the company’s stock valued at $673,000 after buying an additional 289 shares during the period. Phoenix Financial Ltd. bought a new stake in shares of Corteva in the second quarter valued at about $258,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Corteva by 7.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 142,530 shares of the company’s stock valued at $10,521,000 after buying an additional 10,168 shares during the period. Institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTVA shares. Mizuho reduced 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, October 8th. Jefferies Financial Group dropped their price target on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Citigroup lowered shares of Corteva from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $83.00 to $70.00 in a research report on Thursday, October 2nd. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Finally, KeyCorp reissued a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $79.94.

Corteva Stock Performance

Shares of Corteva stock opened at $63.63 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm has a market cap of $43.21 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.45 and a beta of 0.76. The firm has a 50 day simple moving average of $68.53 and a 200 day simple moving average of $69.04. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly 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. The business 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%. Corteva’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 earnings per share. Sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.18 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 35.12%.

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.