KBC Group NV Has $86.12 Million Position in Corteva, Inc. $CTVA

KBC Group NV lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,155,477 shares of the company’s stock after purchasing an additional 11,177 shares during the quarter. KBC Group NV owned about 0.17% of Corteva worth $86,118,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Gladwyn Financial Advisors Inc. acquired a new position in Corteva during the 2nd quarter worth approximately $25,000. Curat Global LLC boosted its holdings in Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new position in Corteva during the second quarter worth $29,000. DHJJ Financial Advisors Ltd. increased its stake in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction on 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 sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.15% of the company’s stock.

Corteva Trading Up 0.3%

CTVA stock opened at $65.73 on Wednesday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a market capitalization of $44.42 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.81. The company’s 50-day simple moving average is $66.07 and its 200 day simple moving average is $69.56. 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 (NYSE:CTVA) last issued its quarterly earnings results 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. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the company posted ($0.49) earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on CTVA shares. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Jefferies Financial Group dropped their price objective on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Royal Bank Of Canada decreased their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Finally, Morgan Stanley set a $84.00 price target on shares of Corteva in a research report on Monday, September 15th. Fifteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.18.

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.