Capital Investment Advisors LLC Acquires 2,033 Shares of Corteva, Inc. $CTVA

Capital Investment Advisors LLC increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 33.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,090 shares of the company’s stock after acquiring an additional 2,033 shares during the quarter. Capital Investment Advisors LLC’s holdings in Corteva were worth $603,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Moody National Bank Trust Division increased its position in Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after acquiring an additional 143 shares during the period. Ancora Advisors LLC increased its position in Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after acquiring an additional 150 shares during the period. NewEdge Advisors LLC increased its position in Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after acquiring an additional 152 shares during the period. Plancorp LLC raised its stake in Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after purchasing an additional 158 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Corteva by 4.4% during the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after buying an additional 160 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTVA shares. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Zacks Research upgraded Corteva to a “hold” rating in a research report on Friday, August 8th. Citigroup downgraded Corteva from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $83.00 to $70.00 in a research note on Thursday. BMO Capital Markets set a $86.00 target price on shares of Corteva in a report on Monday, September 15th. Finally, Morgan Stanley set a $84.00 price target on shares of Corteva in a research note on Monday, September 15th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $80.36.

Corteva Stock Performance

NYSE:CTVA opened at $63.27 on Friday. The stock’s 50-day moving average is $71.44 and its 200-day moving average is $68.84. The stock has a market cap of $42.96 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.39 and a beta of 0.76. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the company earned $1.83 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.18 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is presently 35.12%.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of the firm’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 transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

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.