Summit Place Financial Advisors LLC Has $2.97 Million Stake in Corteva, Inc. (NYSE:CTVA)

Summit Place Financial Advisors LLC reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 6.8% during the 1st quarter, Holdings Channel reports. The fund owned 47,124 shares of the company’s stock after selling 3,455 shares during the quarter. Corteva makes up approximately 1.7% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 27th biggest position. Summit Place Financial Advisors LLC’s holdings in Corteva were worth $2,966,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after purchasing an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP boosted its position in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock valued at $939,641,000 after buying an additional 5,604,838 shares during the last quarter. Franklin Resources Inc. boosted its position in Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after buying an additional 1,354,418 shares during the last quarter. Capital World Investors increased its stake in shares of Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after buying an additional 12,381,436 shares during the period. Finally, Northern Trust Corp raised its position in shares of Corteva by 5.5% during the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock worth $663,521,000 after acquiring an additional 608,898 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $76.96 on Thursday. The stock has a market cap of $52.50 billion, a PE ratio of 46.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. The stock has a 50-day moving average of $69.48 and a 200-day moving average of $63.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.89.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, June 2nd. Corteva’s dividend payout ratio is currently 41.46%.

Wall Street Analyst Weigh In

CTVA has been the topic of several recent research reports. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Monday, March 31st. Citigroup boosted their price objective on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Barclays lifted their price target on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Finally, KeyCorp increased their price objective on shares of Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $72.08.

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.