Corteva, Inc. (NYSE:CTVA) Shares Purchased by Davis R M Inc.

Davis R M Inc. boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 36.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,765 shares of the company’s stock after buying an additional 1,804 shares during the quarter. Davis R M Inc.’s holdings in Corteva were worth $390,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in Corteva by 370.7% in the 1st quarter. Covestor Ltd now owns 1,544 shares of the company’s stock worth $89,000 after purchasing an additional 1,216 shares during the period. Ironwood Investment Counsel LLC boosted its stake in Corteva by 9.5% in the 1st quarter. Ironwood Investment Counsel LLC now owns 60,515 shares of the company’s stock worth $3,490,000 after purchasing an additional 5,247 shares during the period. Catalytic Wealth RIA LLC acquired a new position in Corteva in the 1st quarter worth approximately $243,000. Acadian Asset Management LLC acquired a new position in Corteva in the 1st quarter worth approximately $25,000. Finally, Bristol Gate Capital Partners Inc. boosted its stake in Corteva by 2.0% in the 1st quarter. Bristol Gate Capital Partners Inc. now owns 1,539,892 shares of the company’s stock worth $88,806,000 after purchasing an additional 29,587 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Activity

In other news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Corteva news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 over the last three months. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on CTVA. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Oppenheimer lifted their target price on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group lifted their target price on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Barclays lifted their target price on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Corteva Price Performance

NYSE:CTVA traded down $0.08 during mid-day trading on Tuesday, hitting $54.69. The company’s stock had a trading volume of 655,496 shares, compared to its average volume of 3,441,179. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $38.12 billion, a price-to-earnings ratio of 69.33, a P/E/G ratio of 1.48 and a beta of 0.77. The stock has a fifty day moving average of $53.84 and a 200-day moving average of $53.46.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, equities analysts forecast that Corteva, Inc. will post 2.79 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

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.