Arete Wealth Advisors LLC Makes New Investment in Corteva, Inc. $CTVA

Arete Wealth Advisors LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 1st quarter, HoldingsChannel.com reports. The fund bought 12,446 shares of the company’s stock, valued at approximately $783,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. Nuveen LLC acquired a new stake in Corteva during the first quarter worth $640,333,000. JPMorgan Chase & Co. grew its stake in shares of Corteva by 54.6% in the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock valued at $315,219,000 after buying an additional 1,769,355 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Corteva by 65.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock valued at $204,615,000 after buying an additional 1,290,009 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Corteva by 7,135.6% in the first quarter. GAMMA Investing LLC now owns 947,789 shares of the company’s stock valued at $59,644,000 after buying an additional 934,690 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Corteva by 0.8% in the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after buying an additional 639,799 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value 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 represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTVA. Royal Bank Of Canada reissued an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. KeyCorp raised their price target on Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Zacks Research raised Corteva to a “hold” rating in a research note on Friday, August 8th. Finally, BMO Capital Markets upped their price objective on Corteva from $74.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Corteva Trading Down 0.7%

Shares of CTVA opened at $72.47 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $49.21 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. The stock’s fifty day simple moving average is $73.26 and its 200 day simple moving average is $67.93. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The business 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 business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

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

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.