2,992 Shares in Corteva, Inc. $CTVA Bought by Kanawha Capital Management LLC

Kanawha Capital Management LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the second quarter, Holdings Channel.com reports. The fund purchased 2,992 shares of the company’s stock, valued at approximately $223,000.

Other large investors also recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. acquired a new position in Corteva during the second quarter worth $29,000. Valley National Advisers Inc. raised its position in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after acquiring an additional 243 shares during the period. DHJJ Financial Advisors Ltd. raised its position in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the period. Richardson Capital Management LLC acquired a new position in Corteva during the first quarter worth $37,000. Finally, von Borstel & Associates Inc. acquired a new position in Corteva during the first quarter worth $44,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTVA shares. Mizuho reduced 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. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Citigroup cut shares of Corteva from a “buy” rating to a “neutral” rating and reduced their target price for the company from $83.00 to $70.00 in a research report on Thursday, October 2nd. UBS Group reduced their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $80.31.

Corteva Price Performance

Corteva stock opened at $61.45 on Friday. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The stock has a market cap of $41.73 billion, a P/E ratio of 29.98, a PEG ratio of 1.40 and a beta of 0.76. The company has a 50-day moving average price of $69.44 and a 200 day moving average price of $68.92. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (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 firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period last year, the business earned $1.83 earnings per share. Corteva’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s dividend payout ratio (DPR) is 35.12%.

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.