Barrett & Company Inc. Sells 404 Shares of Corteva, Inc. $CTVA

Barrett & Company Inc. cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 46.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 463 shares of the company’s stock after selling 404 shares during the period. Barrett & Company Inc.’s holdings in Corteva were worth $35,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. 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 worth $888,000 after purchasing an additional 11,760 shares during the period. NBC Securities Inc. raised its stake in shares of Corteva by 93,350.0% during the 1st quarter. NBC Securities Inc. now owns 1,869 shares of the company’s stock worth $117,000 after purchasing an additional 1,867 shares during the period. Merit Financial Group LLC raised its stake in shares of Corteva by 71.8% during the 1st quarter. Merit Financial Group LLC now owns 9,212 shares of the company’s stock worth $580,000 after purchasing an additional 3,849 shares during the period. Portside Wealth Group LLC raised its stake in shares of Corteva by 47.3% during the 1st quarter. Portside Wealth Group LLC now owns 6,022 shares of the company’s stock worth $379,000 after purchasing an additional 1,933 shares during the period. Finally, Chesley Taft & Associates LLC raised its stake in shares of Corteva by 2.1% during the 1st quarter. Chesley Taft & Associates LLC now owns 33,440 shares of the company’s stock worth $2,104,000 after purchasing an additional 681 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 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 approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Corteva Stock Down 0.2%

CTVA stock opened at $63.36 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $43.03 billion, a PE ratio of 30.91, a PEG ratio of 1.43 and a beta of 0.76. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The stock has a 50-day simple moving average of $71.24 and a two-hundred day simple moving average of $68.85.

Corteva (NYSE:CTVA) last posted 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. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. On average, equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CTVA shares. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Oppenheimer set a $87.00 target price on Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corteva in a report on Saturday, September 27th. Morgan Stanley set a $84.00 price objective on Corteva in a report on Monday, September 15th. Finally, Jefferies Financial Group decreased their price objective on Corteva from $92.00 to $85.00 in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Corteva Company 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.