Corteva, Inc. $CTVA Shares Sold by Hedges Asset Management LLC

Hedges Asset Management LLC reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,700 shares of the company’s stock after selling 300 shares during the period. Hedges Asset Management LLC’s holdings in Corteva were worth $276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ancora Advisors LLC boosted its holdings in shares of Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after purchasing an additional 152 shares during the last quarter. Plancorp LLC boosted its holdings in shares of Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after purchasing an additional 158 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after purchasing an additional 160 shares during the last quarter. Finally, One Wealth Capital Management LLC lifted its holdings in Corteva by 3.4% in the first quarter. One Wealth Capital Management LLC now owns 4,835 shares of the company’s stock valued at $304,000 after acquiring an additional 161 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corteva

In other 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 sale, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Up 2.8%

Shares of NYSE CTVA opened at $75.07 on Friday. The firm has a market cap of $50.98 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 1.67 and a beta of 0.78. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The business’s 50 day moving average is $73.03 and its two-hundred day moving average is $68.15.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.83 earnings per share. Research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva’s dividend payout ratio is currently 35.12%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTVA. KeyCorp upped their price objective on Corteva from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 price objective (up from $82.00) on shares of Corteva in a report on Friday, August 8th. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Oppenheimer set a $87.00 price objective on Corteva and gave the company an “outperform” rating in a report on Tuesday, July 15th. Finally, UBS Group upped their price objective on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.25.

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.