Corteva, Inc. (NYSE:CTVA) Shares Acquired by InterOcean Capital Group LLC

InterOcean Capital Group LLC increased its holdings in Corteva, Inc. (NYSE:CTVA) by 9.3% in the 1st quarter, Holdings Channel reports. The fund owned 5,794 shares of the company’s stock after purchasing an additional 495 shares during the period. InterOcean Capital Group LLC’s holdings in Corteva were worth $334,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mediolanum International Funds Ltd bought a new stake in Corteva in the first quarter valued at $2,270,000. WCM Investment Management LLC grew its stake in Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the period. Red Mountain Financial LLC acquired a new stake in Corteva during the 4th quarter worth approximately $862,000. Parsons Capital Management Inc. RI bought a new stake in Corteva in the 1st quarter valued at $230,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Corteva by 15.1% in the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock valued at $66,287,000 after purchasing an additional 181,883 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Activity

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,556 shares of company stock worth $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

CTVA stock traded up $1.47 during trading on Thursday, hitting $55.29. 2,796,530 shares of the company’s stock traded hands, compared to its average volume of 3,433,574. The business has a fifty day simple moving average of $53.71 and a 200 day simple moving average of $53.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a market capitalization of $38.54 billion, a price-to-earnings ratio of 70.22, a P/E/G ratio of 1.47 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the company earned $1.16 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts expect that Corteva, Inc. will post 2.78 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group raised 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. Royal Bank of Canada increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Barclays raised their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Oppenheimer raised their price objective on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

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.