Simmons Bank Has $2.91 Million Position in Corteva, Inc. $CTVA

Simmons Bank grew its position in Corteva, Inc. (NYSE:CTVA) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 39,044 shares of the company’s stock after purchasing an additional 2,273 shares during the quarter. Simmons Bank’s holdings in Corteva were worth $2,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Brighton Jones LLC raised its position in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after buying an additional 11,760 shares in the last quarter. Mutual Advisors LLC raised its position in shares of Corteva by 4.7% in the 1st quarter. Mutual Advisors LLC now owns 5,424 shares of the company’s stock valued at $333,000 after buying an additional 242 shares in the last quarter. Capital Investment Advisory Services LLC raised its position in shares of Corteva by 9.9% in the 1st quarter. Capital Investment Advisory Services LLC now owns 5,145 shares of the company’s stock valued at $324,000 after buying an additional 462 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Corteva by 262.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 20,741 shares of the company’s stock worth $1,305,000 after purchasing an additional 15,016 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its position in Corteva by 4.9% during the 1st quarter. Capital Advisors Inc. OK now owns 6,026 shares of the company’s stock worth $379,000 after purchasing an additional 284 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 0.7%

Shares of NYSE CTVA opened at $62.52 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The firm has a 50 day moving average price of $67.06 and a two-hundred day moving average price of $69.44. The stock has a market cap of $42.45 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.42 and a beta of 0.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company posted ($0.49) EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio is 35.12%.

Insider Activity 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 shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group lowered their price objective on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Jefferies Financial Group lowered their price objective on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Mizuho lowered their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Finally, Citigroup cut shares of Corteva from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $70.00 in a research report on Thursday, October 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.65.

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.