CENTRAL TRUST Co Decreases Holdings in Corteva, Inc. $CTVA

CENTRAL TRUST Co trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,060 shares of the company’s stock after selling 3,248 shares during the period. CENTRAL TRUST Co’s holdings in Corteva were worth $1,793,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Peak Financial Advisors LLC bought a new position in Corteva during the second quarter valued at $505,000. Cary Street Partners Financial LLC lifted its position in shares of Corteva by 20.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock valued at $5,677,000 after buying an additional 15,448 shares during the last quarter. PGGM Investments grew its stake in shares of Corteva by 68.5% during the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares during the period. Goldman Sachs Group Inc. increased its holdings in Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after acquiring an additional 634,938 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC raised its stake in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after acquiring an additional 67,869 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.3%

Corteva stock opened at $65.73 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a market cap of $44.42 billion, a P/E ratio of 28.09, a PEG ratio of 1.49 and a beta of 0.81. The firm’s fifty day moving average price is $66.07 and its 200-day moving average price is $69.56.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.49) earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTVA. Jefferies Financial Group cut their target price on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Morgan Stanley set a $84.00 price objective on shares of Corteva in a report on Monday, September 15th. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Argus dropped their target price on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.18.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred 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 sale, the executive vice president directly owned 49,262 shares in the company, valued at $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 SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by 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.